Rent or Buy a House - Busting 4 Common Myths
According to a recent report by Harvard University’s Joint Center for Housing Studies, the past 15 years have seen a drastic shift in how Americans approach renting and owning with many questioning whether to rent or buy a house.
More people are renting, while fewer are buying houses. In fact, the average annual growth number for renters is now approaching the peak number for home buying reached in 2006, just before the housing market crash.
The reasons for such explosive rental growth are numerous: lingering effects from the economic collapse in 2008, the revitalization of many urban cores, Baby Boomers aging out of their houses, and high rates of student loan debt among Millennials.