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Replies.Why investment properties, cash flow homes and rentals are the best place to be right now!
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This is from an article titled "Drop in homeownership likely to continue" by Haya El Nasser at USA TODAY.
"We're returning more to what was normal in the 1960s," says Dowell Myers, housing demographer at the University of Southern California. "People didn't buy homes then as an investment. They bought them to raise families."
Renting also may be more appealing because:Homeownership is not inherently good or bad, Obrinsky says. "Let's give people the best set of housing choices. They want to be a renter, let them be a renter. If they want to be an owner and they can afford to be, let them be an owner."
- Households are smaller. The youngest of 79 million Baby Boomers will turn 56 by 2020 and many will be empty nesters who favor small homes. The 20-something millennial generation is at a peak age for renting. "What we used to think of as the typical American family — married couple with children — is really not typical anymore," says Mark Obrinsky, chief economist for the National Multi Housing Council in Washington, D.C.
- It's tougher to buy. The subprime mortgage crisis is tightening credit availability.
- Some are new to the USA. Most recent immigrants rent.
- Some want to save energy. From tax credits to mass transit, going green is reshaping growth.
Read the whole article here: http://www.usatoday.com/money/economy/housing/2009-08-05-rental_N.htm
Erik Sale |1-866-95-EZKEY |http://www.ezkeyre.com
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