Great article in the Wall Street Journal this past week.
We’ve been saying for about four years now that “America Has Become A Nation of Renters“. We’ve been telling everyone that the housing crash effectively stole the American Dream and US residents by the millions have just plain given up.
The Wall Street Journal says “Consider it the apartment sector’s sweet revenge. During the housing boom, rental landlords watched their tenants flee to home ownership. Now, five years into the worst housing crash in decades, Americans are headed in the opposite direction. Friday, we reported that the nation’s homeownership rate fell to 66% in the second quarter, down from 66.9% a year earlier…”
That’s no surprise to our team, and what it means in real terms is that about 1% of the American public, or over 3 million people have said, “to heck with it, I’m going to rent instead”, and have done exactly that.
There is no better time than right now to buy US property for rental purposes. There is a shortage of rental properties and huge numbers of Americans are looking for a place to rent.
Let’s talk about supply and demand.
As a matter of fact, let’s just talk.