Opportunity in the rental market is truly heating up. Rates are rising, vacancies are dropping, and investors are looking at buying properties for long term rental revenue.
Owners 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 wants and higher home costs have taken many individuals out of the house buying market. And, many remain burned by the housing crash and don?t need to own a house.
The newest Rental Screening Solutions industry report released by TransUnion found that average rental costs have increased just about 4% countrywide last year while the credit risk of candidates for those properties as measured by TransUnion's Resident Scoring Model has continuously improved, with a typical improvement of 1% in the year.
Although buying a home is 35 p.c less expensive than leasing in the long run, an increasing percentage of Northern Americans are opting to sign a lease rather than a deed. Experts envision home possession will fall further in the next few years.
Purchasing isn't the "American Dream" any more. The North American Dream used to be synonymous in the American psyche with home ownership. Not so any longer. Today, the hottest definition of the American Dream is retiring with monetary security, followed by being debt-free, according released in September by Credit.com. Just 18 percent said that buying a home was the North American dream.
According to Zillow info, home-ownership rates are predicted to fall below 65% in 2014, the lowest level since the mid-1990s and an advantage to real estate investors who will see increased requirement for their rental properties and continued increase in average leases and home costs.
These rising home costs will encourage Americans to move, but to less expensive areas where housing is more reasonable. Metropolitan areas like Atlanta, Dallas, Houston, Indianpolis and Kansas City will continue to see a growth 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/.
Owners 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 wants and higher home costs have taken many individuals out of the house buying market. And, many remain burned by the housing crash and don?t need to own a house.
The newest Rental Screening Solutions industry report released by TransUnion found that average rental costs have increased just about 4% countrywide last year while the credit risk of candidates for those properties as measured by TransUnion's Resident Scoring Model has continuously improved, with a typical improvement of 1% in the year.
Although buying a home is 35 p.c less expensive than leasing in the long run, an increasing percentage of Northern Americans are opting to sign a lease rather than a deed. Experts envision home possession will fall further in the next few years.
Purchasing isn't the "American Dream" any more. The North American Dream used to be synonymous in the American psyche with home ownership. Not so any longer. Today, the hottest definition of the American Dream is retiring with monetary security, followed by being debt-free, according released in September by Credit.com. Just 18 percent said that buying a home was the North American dream.
According to Zillow info, home-ownership rates are predicted to fall below 65% in 2014, the lowest level since the mid-1990s and an advantage to real estate investors who will see increased requirement for their rental properties and continued increase in average leases and home costs.
These rising home costs will encourage Americans to move, but to less expensive areas where housing is more reasonable. Metropolitan areas like Atlanta, Dallas, Houston, Indianpolis and Kansas City will continue to see a growth 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 an investor, author and founding figure behind Norada Property Investments รข€" a nationwide real estate investment firm providing turnkey investment property in expansion markets around the U.S.. For more articles like Welcome to the Rental Boom!, please be happy to visit our Property Investing Blog where it was initially printed.
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