Even though there are still a number of self-proclaimed financial gurus who are calling for an imminent housing crash, the data simply does not support that there will be one; and if prices were to hypothetically fall in a big way it still would be well without reach for many Americans, especially with higher mortgage rates, with home affordability at its lowest since 2007.
With owning a home increasingly looking more and more like an unachievable dream, especially for Millennials and Zoomers, Americans are turning towards renting a home instead.
Last week, CBS ran a story titled “Built-to-rent communities are a rising U.S. housing market trend.” Entire neighborhoods are now being built with the intention of being rented in perpetuity and never owning one.
The outlet wrote: ‘Built-to-rent communities began in Phoenix during the Great Recession to meet that demand. They are higher density and smaller cottage-sized homes — a literal cottage industry now spreading in cities across the Sunbelt, including Phoenix, Atlanta and Dallas.’
In July 2023, NBC’s TODAY reported that there were nearly 1,000 built-to-rent communities in the United States, and almost 600 still under construction at the time.
“Think about location, and if the community matches your lifestyle – tips to help you lay the foundation for your version of the American dream,” the TODAY anchor said.
This is part of a much larger trend of an economic shift towards a service and subscription-based economy, where Americans are choosing to rent and lease basic products besides homes.
SEE: Wall Street Journal Lauds America’s ‘Extreme Renters Who Own Nothing,’ Including Their Own Clothes
Deseret News reported last month:
A recent Intuit Credit Karma survey found that as many as 1 in 4 Americans prefer to rent goods over purchasing, and 58% of those said they do so because of personal preference, not because of affordability or other pressures.
What Americans are renting:
- Car — 17%
- Clothing/accessories — 9%
- Electronics — 8%
- Furniture — 7%
The number jumped to 47% when surveyors were asked if they rented their homes.
“Over the last decade we’ve seen the ‘rental economy’ gain popularity as more opportunities to rent goods and services have flooded the market,” Credit Karma consumer financial advocate Courtney Alev said of the survey, per Credit Karma.
“Renting can serve various needs for consumers, whether they’re seeking flexibility, minimalism or savings. That’s not to diminish the current housing affordability crisis that’s standing in the way of many renters’ ability to achieve homeownership. Whatever the case may be, before fully embracing a rent-first lifestyle, consumers should evaluate all of their options to see how they stack up to their goals and aspirations,” she added.
That said, people would still buy rather than rent if affordability weren’t an issue. The Harris Poll survey found that 48% of Americans said they would purchase if they had the funds to do so, while 28% said they wouldn’t buy because of high mortgage rates.
Why people are choosing to rent:
- Buying doesn’t make financial sense — 13%
- Allows money to be spent on other things — 15%
- Buying is too much maintenance — 16%
- Renting is saving them money — 16%
- Don’t want to live in the area long term — 18%
- Renting is less stressful — 20%
AUTHOR COMMENTARY
Once again, the World Economic Forum’s infamous and ominous saying continues to be fulfilled: “You’ll own nothing and be happy” by 2030.
SEE: Bought & Paid For: Joe Biden Is Bankrolled By Blackrock And Donald Trump Is Bankrolled By Blackstone
Car-Free ‘5-Minute City’ Opens In Arizona
Jeremiah 2:14 Is Israel a servant? is he a homeborn slave? why is he spoiled?
America, and the rest of the world for that matter, have essentially been turned into giant plantations and we are just the serfs working them to make a few even richer and richer…
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
hi!,I like your writing very much! share we communicate more about your article on AOL? I need a specialist on this area to solve my problem. May be that’s you! Looking forward to see you.
I want to express my love for your kindness supporting men and women who require assistance with in this topic. Your special commitment to passing the message along had become certainly important and has constantly allowed associates like me to reach their endeavors. This informative tips and hints denotes so much a person like me and especially to my office colleagues. Best wishes; from all of us.
I got what you mean , thanks for posting.Woh I am happy to find this website through google. “The test and use of a man’s education is that he finds pleasure in the exercise of his mind.” by Carl Barzun.
I went over this web site and I believe you have a lot of fantastic information, saved to bookmarks (:.
You are a very clever individual!
Do you have a spam problem on this site; I also am a blogger, and I was wondering your situation; we have developed some nice practices and we are looking to exchange strategies with others, why not shoot me an email if interested.
Can I just say what a relief to find someone who actually knows what theyre talking about on the internet. You definitely know how to bring an issue to light and make it important. More people need to read this and understand this side of the story. I cant believe youre not more popular because you definitely have the gift.
I like what you guys are up also. Such clever work and reporting! Carry on the excellent works guys I¦ve incorporated you guys to my blogroll. I think it’ll improve the value of my web site 🙂
You made a number of fine points there. I did a search on the matter and found most folks will agree with your blog.
You are my intake, I own few web logs and very sporadically run out from post :). “Analyzing humor is like dissecting a frog. Few people are interested and the frog dies of it.” by E. B. White.
But wanna remark that you have a very decent internet site, I like the layout it really stands out.
I truly appreciate this post. I’ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thank you again!
Usually I don’t read post on blogs, but I would like to say that this write-up very forced me to try and do it! Your writing style has been surprised me. Thanks, very nice article.
Hey there would you mind letting me know which webhost you’re utilizing? I’ve loaded your blog in 3 completely different browsers and I must say this blog loads a lot quicker then most. Can you suggest a good web hosting provider at a reasonable price? Kudos, I appreciate it!
Hey, you used to write magnificent, but the last several posts have been kinda boring?K I miss your super writings. Past few posts are just a bit out of track! come on!
I have not checked in here for a while since I thought it was getting boring, but the last several posts are great quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂
It’s actually a great and useful piece of info. I am glad that you shared this useful info with us. Please keep us up to date like this. Thanks for sharing.
I simply couldn’t depart your site prior to suggesting that I extremely loved the standard info a person provide on your guests? Is gonna be back steadily in order to check up on new posts
Outstanding post, you have pointed out some excellent details , I as well think this s a very great website.
Some times its a pain in the ass to read what people wrote but this site is very user genial! .
Some genuinely interesting info , well written and generally user pleasant.
I view something really interesting about your web site so I saved to bookmarks.
Hey! I simply want to give a huge thumbs up for the nice info you’ve got here on this post. I will probably be coming back to your blog for more soon.
Greetings from Ohio! I’m bored at work so I decided to check out your blog on my iphone during lunch break. I really like the information you provide here and can’t wait to take a look when I get home. I’m shocked at how quick your blog loaded on my phone .. I’m not even using WIFI, just 3G .. Anyways, excellent site!
That is the correct weblog for anyone who desires to seek out out about this topic. You realize a lot its nearly onerous to argue with you (not that I really would want…HaHa). You undoubtedly put a new spin on a subject thats been written about for years. Nice stuff, simply great!
Really clear site, regards for this post.
Hi there, just became aware of your blog through Google, and found that it’s truly informative. I am gonna watch out for brussels. I will appreciate if you continue this in future. Many people will be benefited from your writing. Cheers!
I like this weblog so much, saved to fav.
I was just seeking this information for some time. After six hours of continuous Googleing, at last I got it in your web site. I wonder what’s the lack of Google strategy that do not rank this kind of informative websites in top of the list. Usually the top web sites are full of garbage.
I have read several excellent stuff here. Certainly price bookmarking for revisiting. I wonder how so much attempt you put to create the sort of excellent informative site.
Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.
I actually wanted to construct a simple remark to be able to thank you for these lovely ideas you are giving out on this website. My long internet look up has at the end been recognized with extremely good details to exchange with my co-workers. I ‘d state that that many of us readers actually are truly blessed to dwell in a fantastic network with many outstanding individuals with interesting advice. I feel very much grateful to have used the web pages and look forward to so many more fabulous times reading here. Thank you once more for a lot of things.
You really make it seem so easy with your presentation but I find this matter to be really something that I think I would never understand. It seems too complex and extremely broad for me. I am looking forward for your next post, I will try to get the hang of it!
hello!,I like your writing so much! percentage we be in contact extra approximately your post on AOL? I need a specialist in this house to unravel my problem. Maybe that’s you! Looking ahead to peer you.
What’s Happening i am new to this, I stumbled upon this I have found It absolutely helpful and it has aided me out loads. I hope to contribute & assist other users like its helped me. Good job.
Wow, fantastic blog layout! How long have you been blogging for? you make blogging look easy. The overall look of your site is wonderful, as well as the content!
There is visibly a bunch to know about this. I think you made various nice points in features also.
Absolutely indited subject matter, Really enjoyed reading.
F*ckin’ amazing issues here. I’m very happy to peer your article. Thank you so much and i’m looking forward to contact you. Will you please drop me a e-mail?
Appreciate it for helping out, good information. “Courage comes and goes. Hold on for the next supply.” by Vicki Baum.
I am really loving the theme/design of your weblog. Do you ever run into any internet browser compatibility problems? A number of my blog readers have complained about my blog not working correctly in Explorer but looks great in Safari. Do you have any tips to help fix this issue?
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
I have not checked in here for a while since I thought it was getting boring, but the last few posts are great quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
Sleep Lean is a natural nighttime weight management supplement designed to help you burn fat, improve sleep quality, and balance hormones—all while you rest.
Admiring the time and effort you put into your site and detailed information you offer. It’s great to come across a blog every once in a while that isn’t the same outdated rehashed information. Excellent read! I’ve saved your site and I’m adding your RSS feeds to my Google account.
Many men who have tried the blue salt trick report increased stamina, better performance, and a renewed sense of confidence.
I am so happy to read this. This is the kind of manual that needs to be given and not the random misinformation that is at the other blogs. Appreciate your sharing this best doc.
This design is incredible! You most certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job. I really loved what you had to say, and more than that, how you presented it. Too cool!
PROSTADINE is truly unlike anything you’ve ever encountered in your life. It stands as the sole droplet solution that incorporates nine potent natural ingredients, working in perfect synergy to safeguard the health and mineral balance of your prostate well into your golden years.