Opportunity in the rental market is actually warming up. Rates are rising, vacancies are dropping, and investors are aiming to buy properties for long-term rental revenue.
Owners have enjoyed the advantage since the housing crisis as increased interest from renters coincided with little new supply of rental units. Rising mortgage rates, tighter borrowing wants and higher home costs have taken many individuals out of the house purchasing market. Plus, many remain burned by the housing crash and don?t need to own a home.
The newest Rental Screening Solutions industry report released by TransUnion revealed that average rental prices have increased nearly 4% across the nation last year while the credit possibility of candidates for those properties as measured by TransUnion's Resident Scoring Model has gradually improved, with an average improvement of 1% in the year.
Even though buying a home is 35 percent less expensive than renting over the long run, an increasing percentage of Northern Americans are choosing to sign a lease instead of a deed. Pros envision home ownership will fall even further in the next few years.
Purchasing isn't the "American Dream" any longer. The North American Dream used to be synonymous in the American psyche with home possession. Not so anymore. Today, the most well-liked definition of the North American Dream is retiring with monetary security, followed by being debt-free, according released in September by Credit.com. Just 18 percent said that buying a home was the American dream.
According to Zillow data, home-ownership rates are envisioned to fall below 65% in 2014, the lowest level since the mid-1990s and a benefit to investors in property who will see increased requirement for their rental properties and continued increase in average leases and home costs.
These rising home costs will encourage USA citizens to move, but to more cost effective areas where housing is more affordable. Metropolitan areas like Atlanta, Dallas, Houston, Indianpolis and Kansas City will continue to see a growth in residents and make great investment markets to build up your tunkey real estate portfolio.
Click the link below to see the inforgraphic: http://www.noradarealestate.com/blog/welcome-to-the-rental-boom/.
Owners have enjoyed the advantage since the housing crisis as increased interest from renters coincided with little new supply of rental units. Rising mortgage rates, tighter borrowing wants and higher home costs have taken many individuals out of the house purchasing market. Plus, many remain burned by the housing crash and don?t need to own a home.
The newest Rental Screening Solutions industry report released by TransUnion revealed that average rental prices have increased nearly 4% across the nation last year while the credit possibility of candidates for those properties as measured by TransUnion's Resident Scoring Model has gradually improved, with an average improvement of 1% in the year.
Even though buying a home is 35 percent less expensive than renting over the long run, an increasing percentage of Northern Americans are choosing to sign a lease instead of a deed. Pros envision home ownership will fall even further in the next few years.
Purchasing isn't the "American Dream" any longer. The North American Dream used to be synonymous in the American psyche with home possession. Not so anymore. Today, the most well-liked definition of the North American Dream is retiring with monetary security, followed by being debt-free, according released in September by Credit.com. Just 18 percent said that buying a home was the American dream.
According to Zillow data, home-ownership rates are envisioned to fall below 65% in 2014, the lowest level since the mid-1990s and a benefit to investors in property who will see increased requirement for their rental properties and continued increase in average leases and home costs.
These rising home costs will encourage USA citizens to move, but to more cost effective areas where housing is more affordable. Metropolitan areas like Atlanta, Dallas, Houston, Indianpolis and Kansas City will continue to see a growth in residents and make great investment markets to build up your tunkey real estate portfolio.
Click the link below to see the inforgraphic: http://www.noradarealestate.com/blog/welcome-to-the-rental-boom/.
About the Author:
Marco Santarelli is a speculator, author and founding figure behind Norada Real-estate Ventures â€" a state property investment firm providing turnkey investment property in expansion markets around the U.S.. For more articles like Welcome to the Rental Boom!, please feel free to visit our Property Investing Blog where it was initially printed.