The Rise of the Long-Term Renter | Property Partners Blog

It seems like renting is on the rise and home ownership is still dropping in numbers. Families that might have previously tried their hand at ownership lost a lot when the housing bubble burst a few years ago, leaving them much more comfortable with the idea of renting rather than buying. The current generation is more likely to move for the right job and the right pay, adding to the attractiveness of not being tied down to a mortgage in a city that might not fit that discription. Between foreclosures, a down economy, credits that might have been brought low by said forclosures, rising interest rates and higher down payments, renting just seems right for some.

Investors have increasingly been buying up properties, also putting a hold on the housing market if they plan to rent them out again. If this will tie them up for at least a few years, it is less likely that they'll be on the market to be bought. Multi-family housing is on the rise with apartments often being filled nearly to capacity, allowing for the property management field and others like it to grow.

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POSTED October 10 2013 2:46 PM

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