Some folks are simply indecisive about buying a home, but the recent recession has changed the viewpoint of many permanently. We are seeing the trend of becoming more of a “renter nation” at the same time real estate investors are beginning to provide more rental homes from the stockpile of foreclosures and short sales that came out of the recession.
As Blackstone and other offer more financing opportunities to real estate investors, this renter nation trend is expected to continue and more homes will become available for those who choose to rent long term. At the same time many more real estate investors are looking at the longer term buy-to-rent strategy as a way to gain a better return than what they could get through the stock market.
As Smith points out in the article, keeping your options open, not wanting to deal with repairs, a desire to push you cash somewhere else or simply not wanting to put up with all the legal detail and work of buying a home are all reasons more people are continuing to live as renters.