Keep those lease renewals coming – Inman News is reporting that renters are sticking around, at least for a little while:
“Most renters who plan to become homeowners say it will be at least two years before they make the leap, and more than one out of four renters say they’ll never buy a home, according to an online survey by Harris Interactive.”
Is the idea of owning a home as something that everyone has to do really slipping?
I know that in my mid 20s (I’m at the much more mature age of 30 now…), I felt intense pressure to buy a home. It was one of the things you check off the list of “grown-up” things to do.
Last year my husband (then fiance) and I were in a lucky spot – we had enough money for a down payment, secure jobs and interest rates/prices were decent.
After digging around for a while, we found a beautiful house, signed our life away on a billion pieces of paper and became homeowners.
Now I’m hearing my friends talk about the amazing prices they’re getting on their new apartments – the places where their property managers deal with their leaky faucets and where their gardens are always manicured for them. I’m watching how sloooooowly the prices of homes in my neighborhood are expected to creep up.
And I have to admit, I feel a bit envious.
This morning I read on USA Today that the government subsidized $230 billion in the homeownership field versus $60 billion that went to the rental market last year – but it sounds like housing finance reform may start to trend towards supporting the rental market a bit more going forward.
It seems to me like the “American Dream” is being rewritten. What do you think?