Changes in Home Ownership for a Changing Market

[Ben Staples]

http://www.foxbusiness.com/markets/2015/08/17/americans-are-now-renting-6-years-before-buying-their-first-home-study-finds/

Home ownership is at a staggering 48 year low where just 63.4% of the US population actually owns homes according to the above article. It seems like the American dream is truly changing! People are waiting longer to settle down, get married, have kids, and of course buy a home. According to this article, the median age for first time home buyers is now 33 years old, up significantly from past generations.

One of the most interesting points I saw in this article was the shift in desires of the rental population. Now that people know they will be renting for longer than previously expected, the general population is searching for amenities more similar to those if they actually purchased a home, and are willing to spend for it.

Overall, I am excited to see such a shift in the rental market, and can't wait to see where it brings us.

What do you think?