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Yet from what I've seen rent prices continue to hold or rise. If I had to guess, more and more people may be opting away from home ownership so the charts on de
by smaili 7y ago
Yet from what I've seen rent prices continue to hold or rise. If I had to guess, more and more people may be opting away from home ownership so the charts on demand for purchasing homes may be trending downward as demand for renting trends upward. Would've been interesting of the article juxtaposed the two but it could help explain why prices for one has gone down as the other goes up.
- dba7dba 7y ago>>> more and more people may be opting away from home ownership I don't think people are opting away from home ownership but rather forced away from home ownership due to high down payment requirement and lack of enough jobs that allow someone to save enough. Who has $100,000 in cash to put down 10% downpayment? It is a vicious cycle. Less people are able to afford downpayment. So more people are crowding into rental market. But affordable rental supply is decreasing as more rental units are converted into condo/house AND more people are forced into rentals. It is really a vicious, destructive downward spiral.