If you have attended any of our free classes on U.S. real estate, you know that we spend a good deal of time discussing the shift in psyche and attitude in the United States. Simply put, the United States has become a nation of renters.
Evidence of this is everywhere as millions of Americans choose to move from home ownership to rentals. That’s great news for those people who understand that these millions of people need to rent from someone and it might as well be us.
From Bloomberg today, another great article about the ‘surprising’ (their word not mine) lack of interest in buying a home. The article includes this tidbit: “Consumer sentiment at depressed levels, unemployment above 9 percent and limited access to credit are preventing Americans from taking advantage of near record-low mortgage rates and discounted pricing on homes“.
Yep. Perfect time to buy, hold and rent.
That’s what we’re doing.