Rentals Numbers are at a 50 Year High! WHY???

Rentals Numbers are at a 50 Year High!

WHY???

Is the American Dream Dying? Do you still wish to own a home? Do you still dream of that white picket fence, a big back yard, a man cave, a women's retreat, etc., etc., etc.,??? According to Forbes.com, the number of people who own a home is decreasing... and the number of people renting is greater today than it has been in the last 50 years!

Why? 

Why is a Great Question!

Forbes.com sites 5 reasons this may be so. 

1) Reduced number of affordable houses. 

2) The Increase in Student Loan Debt

3) Lack of People Working in the Construction Industry

4) & 5) Residual Effects of the Recession and the Fear of a Market Correction. 

What do all these factors mean to the Real Estate and Rental Markets? Time will tell~ Forbes.com states that there may end up with an overage of rentals leaving landlords with a struggle to keep rentals long term. I don't see this here in the twin cities as of yet. Here in the Twin Cities, rents are continuing to rise right along with housing prices. Leaving buyers and renters with a difficult decision wondering what they should do. Rent? Buy? 

Buying a home still offers tax savings to home owners. Buying a home still gives owners more liberties with paint colors and landscaping options. Whatever you decide, it's the right decision for you. 

The FULL FORBES.COM Article is here. 

If you decide to buy, I would love to help! I would love to teach and educate you on the process of buying.