|The 24/7WallSt.com article talks about the potential consumer shift to renting instead of buying houses. Reason? People don't have to worry about falling prices.
What has been lost in the review of home buying and renting habits is that some people who own a home will decide never to buy one again. The reaction to losing so much money on what is the largest investment many people will ever have will be, in many cases that they will not come back to the real estate market again. People who have suffered through anxious months not knowing if they will be able to pay their mortgages may decide that it is not an experience they want to repeat.Personally, I favor home ownership but agree that renting may be a better option in many situations. Renting a house gives you much more flexibility if relocating. In addition, you don't need to worry about falling housing prices, property taxes, and maintenance. Especially in the current environment, where a person may lose a job and need to relocate as part of a new job offer, renting can definately save lots of hassles.
For complete article, see:
247WallSt.com: Will Renting Be The Undoing Of Home Prices?
Labels: apartment, home, house, investing, investment, renting