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Renting Is the New Buying, Thanks to Plague of Foreclosures
By Alec Foege
Jul 27th 2010 @ 2:33PM
Jul 27th 2010 @ 2:33PM
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Homeownership is being replaced by a new American virtue: renting. Landlords across the country are reporting a big increase in new leases as foreclosures push former owners into the rental market, and young adults are finding new jobs and setting out on their own. For the first half of 2010, occupied apartments rose by 215,000 in the 64 biggest rental markets. The surge is expected to translate into 5 percent to 10 percent earnings increases in real estate investment trusts, a popular investment vehicle. So be proud, be transient -- be a renter.More on AOL Real Estate:
Looking for a new home? See "Should You Rent or Buy?"
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as a landlord/owner of rental properties ( a licensed Realtor for more than 32 years,) - I have found that each and EVERY tenant stiffed me - they would not fess up for their actions, non payment - if you own rental property - you have experienced - losses - more than the rent for their tenure - I do not know - with the gossip of recinded the mortgage deduction - the owner can NOT survive without these deduction -