“Rental properties can provide monthly cash flow, protect against inflation, and usually appreciate over the long term. Some retirees swear by rental properties instead of the usual stock and bond portfolio because they don’t have to stomach the volatile stock market swings.”
Joe Udo, of the blog Retire by 40. Should You Use Rental Properties to Fund Retirement?, Huffington Post, 4/22/13.
“More than half of Americans (57 percent) now believe that ‘buying has become less appealing,’ while 54 percent believe that ‘renting has become more appealing.’ Almost half of current home owners (45 percent) can see themselves renting at some point in the future. And, the rate increases alongside income and education.”
Richard Florida, reporting on a study by Hart Research Associates. Renting the American Dream, The Atlantic Cities, 4/23/13.
“We’re seeing an uptick in these types of people–usually it’s for buying a five- to ten-unit complex. It’s just a start to get their feet wet.”
Leanne Eicoff of CLD Capital. Individual Investors Eye Apartments, NuWire Investor, 4/24/13.
“We have found that factors such as previous rental history, length of employment and disposable income can be more important than a credit score.”
Kevin Wolfgang, President of Evergreen Apartment Group. More than a Score: Management Companies Must Look Beyond Credit, from the April 2013 edition of UNITS magazine, a publication of the NAA.
“Renting, which connotes mobility, might come to be identified with a high-status lifestyle in the new economy…In the wake of the housing crisis, and amid shifting demographics, it’s plausible that a broad change in thinking is ahead, reducing demand for large suburban homes.”
Robert Shiller of the New York Times. Today’s Dream House May Not Be Tomorrow’s, The Times’ Business Day, 4/27/13.
“The homeownership rate has fallen steadily after reaching a peak of 69.4 percent in 2004. Though some homeowners have become renters after losing their homes in foreclosure, the greater driver is that renting households have been slower to buy a home.”
Elliot Njus of The Oregonian. U.S. homeownership rate falls to lowest level since 1995, OregonLive.com, 4/29/13.
“First quarter commercial and multifamily mortgage origination volumes were nine percent higher than last year’s first quarter level. The overall number masks larger increases in the dollar volume of loans originated for commercial mortgage-backed securities and Fannie Mae and Freddie Mac and a decline in the amount originated for life insurance company portfolios.”
Jamie Woodwell, VP of Commercial Real Estate Research at MBA. Commercial and Multifamily Mortgage Originations Increase by 9% Since Early 2012, LoanSafe.org, 4/30/13.
“I don’t make a ton of money. This was appealing because it was affordable and it gave me access to a downtown market.”
Kris King, micro-apartment renter. Seattle Residents Sick of Tiny Apartments, Business Insider, 5/1/13.
“While rental costs have steadily risen over the last few years, wages for these working families have not fully recovered from the hit they took between 2008 and 2009.”
Janet Viveiros of the Center for Housing Policy. Rent burden rises for working households, Seattle Times, 5/2/13.