2017-05-15 Half of America's Largest Cities are Majority-Renter
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Fellow GDREIA Members
Half of America's Largest Cities are Majority-RenterBrad Beckett-- Real Estate Investing Today
A recent article by Bloomberg cites research provided by RedFin and the U.S. Census Bureau (and other sources) showing that in 2015, fifty-two of the nation’s 100 largest cities were majority-renter. In fact, twenty-one of those cities shifted over to the renter-majority column since 2009 alone. With a shortage of homes on the market it is understandable that renting is taking a greater share of the market, but is that the only dynamic at play? Bloomberg suggests that the American Dream now increasingly involves a lease, not necessarily a mortgage.
Click here to read the full story on Bloomberg.com.