Why Are High Earners Moving Toward Renting Instead Of Buying?

So you think you have the average American renter all figured out—that they’re a group of young, unsettled, commitmentphobic folks, just starting out and scraping by? Well, you might want to widen out that picture a bit. The reality: The fastest-growing group of new renters includes those aged 50 or older, or younger folks raking in six-figure salaries, according to a new report.

The America’s Rental Housing 2017 report from the Joint Center for Housing Studies of Harvard University outlines a tale of the haves—who could afford to buy a home, but choose not to—and the have-nots, who don’t make enough money to become homeowners. And although overall rental prices are starting to level off, and in some cases even dip a little, there still aren’t nearly enough affordable rentals to meet the overwhelming demand from lower-income renters.   MORE

Designed by Reinhold Technology Solutions