Opportunity in the rental market is really heating up. Rates are rising, vacancies are dropping, and investors are looking at buying properties for long term rental income.
Landlords have enjoyed the upper hand since the housing emergency as increased interest from renters coincided with little new supply of rental units. Rising mortgage rates, tighter borrowing requirements and higher home prices have taken many folks out of the home-buying market. And, many remain burned by the housing crash and don?t wish to have a house.
The latest Rental Screening Solutions industry report published by TransUnion revealed that average rental prices have increased just about 4% nationwide last year while the credit risk of applicants for those properties as measured by TransUnion's Resident Scoring Model has steadily improved, with a median improvement of 1% in the year.
Even though buying a home is 35 p.c cheaper than renting in the long term, an increasing percentage of Americans are choosing to sign a lease instead of a deed. Gurus forecast home possession will fall even further in the next few years.
Purchasing isn't the "American Dream" any more. The American Dream used to be equivalent in the American psyche with home possession. Not so any longer. Today, the most well-liked definition of the North American Dream is retiring with financial security, followed by being debt-free, according released in Sep by Credit.com. Just 18 % said that purchasing a home was the North American dream.
According to Zillow info, home-ownership rates are envisioned to fall below 65% in 2014, the lowest level since the mid-1990s and a benefit to real estate investors who will see increased demand for their rental properties and continued increase in average leases and home costs.
These rising home costs will inspire Americans to move, but to less expensive areas where housing is cheaper. Urban areas like Atlanta, Dallas, Houston, Indianpolis and Kansas City may continue to see a expansion in residents and make great investment markets to build up your tunkey real estate portfolio.
Click the link below to see the inforgraphic: http://www.noradarealestate.com/blog/welcome-to-the-rental-boom/.
Landlords have enjoyed the upper hand since the housing emergency as increased interest from renters coincided with little new supply of rental units. Rising mortgage rates, tighter borrowing requirements and higher home prices have taken many folks out of the home-buying market. And, many remain burned by the housing crash and don?t wish to have a house.
The latest Rental Screening Solutions industry report published by TransUnion revealed that average rental prices have increased just about 4% nationwide last year while the credit risk of applicants for those properties as measured by TransUnion's Resident Scoring Model has steadily improved, with a median improvement of 1% in the year.
Even though buying a home is 35 p.c cheaper than renting in the long term, an increasing percentage of Americans are choosing to sign a lease instead of a deed. Gurus forecast home possession will fall even further in the next few years.
Purchasing isn't the "American Dream" any more. The American Dream used to be equivalent in the American psyche with home possession. Not so any longer. Today, the most well-liked definition of the North American Dream is retiring with financial security, followed by being debt-free, according released in Sep by Credit.com. Just 18 % said that purchasing a home was the North American dream.
According to Zillow info, home-ownership rates are envisioned to fall below 65% in 2014, the lowest level since the mid-1990s and a benefit to real estate investors who will see increased demand for their rental properties and continued increase in average leases and home costs.
These rising home costs will inspire Americans to move, but to less expensive areas where housing is cheaper. Urban areas like Atlanta, Dallas, Houston, Indianpolis and Kansas City may continue to see a expansion in residents and make great investment markets to build up your tunkey real estate portfolio.
Click the link below to see the inforgraphic: http://www.noradarealestate.com/blog/welcome-to-the-rental-boom/.
About the Author:
Marco Santarelli is a stockholder, writer and founding figure behind Norada Real-estate Investments รข€" a national real-estate investment firm providing turnkey investment property in growth markets round the U.S.. For more articles like Welcome to the Rental Boom!, please be at liberty to visit our Property Investing Blog where it was at first published.
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