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How Long will Renters Keep Renting?

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I’m a numbers geek.

Especially for trend analysis on the most granular level.

I monitor data and generate my own custom data points much like a German Shepherd watches you out of the corner of his eye, even when you think he’s sleeping.

This article addresses one of the most frequent questions asked by our property management clients & real estate agents everywhere.  http://m.nreionline.com/multifamily/how-long-will-renters-keep-renting

If you are a Polaris Property Management landlord, you’ve heard me talking about this topic ever since the major market shifts of Q4 2008.

Even if you don’t currently have residential rental properties, these shifts DO impact your ability to sell your home and buy a new home in the upcoming years.

Here’s some of the highlights:

  • 62% of Renters describe themselves as stuck in the rental process, incapable of buying a home.
  • 37% of renters say that they would rather rent than own a home.
  • 78% of renters agree that renting provides relief from home maintenance responsibilities
  • 61% of renters expect to keep renting in the next 3 years.

Now each statistic means something different depending on your personal situation of buying, selling, holding, or turning over your rental portfolio.

But each statistic means the following, regardless of your personal situation and here’s the magical takeaway:  The rental market is shifting and the impacts on the traditional buying/selling of real estate is substantial.

As always, we are here to help you scrub through the data to recognize the path that is best for you.

Dan Baldini

 

P.S.  Have you caught our podcast series designed exclusively for Landlords, Investors, and Real Estate Agents?  Click to check it out today.  It’s free.

 

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