Here’s an interesting piece that highlights several factors in the continued demand for rental housing:
“There is clearly an unmet demand for homeownership among young households,” Barry Zigas, director of Housing Policy for Consumer Federation of America, told HousingWire. “Those households are running up against a number of constraints.”
Factors such as tighter credit, larger down payments and decreased income with the rising generation will all play into the increase in renters in the years ahead.
“Credit for homeownership borrowing will likely be tighter and potentially more expensive, relative to earlier times,” Zigas said. “Families will likely have less wealth because the rising generation is starting with less wealth. If down payments are at any significant level, it will be a barrier to acquiring a home for longer than may have been the case in the past.”