When people ask me what kind of market this is, I reply that it is a landlord's market.
Norada's real estate investing blog confirmed this, citing that the home-ownership rate reported by the US Census Bureau this past quarter was the lowest rate of home ownership since 1995. The chart above shows the rise and fall of homeownership within the United States. Many young adults have decided to rent or move in with parents, rather than buy a home.
At the same time, the median asking rent for housing just hit an all-time high of $735 per month.
But of course, Americans are fortunate to have seen a rise in their incomes over this time.
Oops. Maybe not. How about personal wealth?
Oh well. Better start getting to the more lucrative side of this equation!
Happy Investing!
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