In the housing debate, we have been hearing about increasing rents nationwide. Yet despite the rise, renters are part of the 25% overall that say they prefer renting to owning a home. One quarter of all renters say they prefer to rent than own.
24% of Americans who rent say they plan to continue renting for the rest of their lives. Meanwhile, 47% of renters surveyed believe renting makes more sense that buying a house with regard to current economic conditions.
"The fact that a quarter of renters plan to never own a home indicates to us that the definition of the American Dream is changing,” said John Kobs, CEO and co-founder of ApartmentList.com, which conducted the “Rentonomics” Report. “While the resale market slowly recovers, it seems that more Americans are embracing renting for the long term.”
Other findings in the survey revealed that 37% of renters regard home ownership as “overrated” and not a vital life goal. Meanwhile, 24% declared they do not want to be homeowners, 39% are dissuaded by the expense of home ownership and 31% say home ownership is financially “too risky”.
For information on apartments in Ridgeland, SC, please contact Auston Chase Apartments.