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Recent studies show that many renters don’t expect to purchase a home anytime soon, and that they feel confident about their living situation. On today’s show, I’m discussing these findings, and sharing my outlook for real estate investors.
On this episode of Investing in Real Estate, we’ll talk about why tenants rent, and how you can set yourself up for success as a landlord. I’ll elaborate on consumer confidence, renters’ finances, and how the banks come into play in this situation. Don’t miss episode 156!
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A recent article on CNBC.com reviewed data from mortgage provider Freddie Mac, citing that 37% of renters have no pressing plans to move, jumping from 30% in September. Additionally, the study showed that only 33% of renters intend to move in the next two years. This figure fell from 38%.
This data shows that an increasingly growing amount of renters possess a positive outlook of renting. For investors, this is fantastic news! We have the opportunity to create spaces for renters to call home. People will always need a place to live, and my opinion has long been, “why shouldn’t they rent from me?”
A separate study conducted by Zillow determined that a lack of down payment funds prevented more than two thirds of renters to purchase a home. As banks continue to tighten their belts, many people have difficulties qualifying for mortgages.
The article explains that whether by choice or financial necessity, homeownership rates are low, and not expected to rise anytime soon. The bottom line is, anytime is a great time to be a landlord, but now is especially favorable.
Not only are there an excess of tenants, but they’re also willing to pay for rent. Not only that, they’re willing to rent for an indefinite amount of time. On today’s show, I’ll discuss this opportunity further. I’ll share more statistics from the studies, and I’ll also talk about being a landlord amidst an economic downturn.
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- Why is there a surge in rentals?
- Is there a wrong time to own rental real estate?
- How can you protect your investments from economic downfall?
- Why are renters content in not purchasing homes?
- And much more!
Renters are staying put. Here’s why on CNBC
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