Buying a home is 35 percent cheaper than renting in the long term. Still, an increasing percentage of Americans are choosing to sign a lease rather than a deed.
Rental Housing is still booming while the home purchase market remains rocky. Are you targeting the right crowd for your income property? Check out these stats:
"Last year, 36 percent of the country’s 18- to 36-year olds lived with their parents — the highest share in at least 40 years, according to a Pew Research studyreleased in August.
Experts believe those millennials will eventually move out, but they’re not going to jump straight from mom and dad’s couch into home ownership. "Those young people are probably going to rent before they buy," says Jed Kolko, a housing economist with Trulia."
Millenials are much more technology inclined and will most likely do internet searching and rely on word of mouth for referrals. Make sure you’re doing your homework!
See on theweek.com