The recession and shifting demographics will swell the ranks of people who will rent, not buy, housing over the next five years. This is according to an interesting blog I found in Yahoo Real Estate: http://finance.yahoo.com/real-estate/article/110173/renter-nation?mod=re.... Read below to see the entire blog:
The American dream of owning a home is still very much alive, but it will be no more than a dream for a growing number of people over the next five years. That's bad news for home builders, who already have big troubles, as June's reports on housing starts, existing-home sales, building permits and unsold-home inventories showed. But it is good news for anyone renting out a home, apartment or condo, or any real-estate investment trust specializing in residential rental properties.