Have American’s views about renting changed how we should be viewing homeownership? A recent article in the Washington Post by the President of the National Apartment Association suggests that it has – at least for Baby Boomers and Millennials. In fact, he says that attitudes are changing and renting is no longer seen as a “rung on the housing ladder” but rather as a lifestyle decision that, in many cases, is more flexible than traditional homeownership. Obviously, renting is not the best choice for everyone and there certainly is no one-size-fits-all rule for housing. However, we are living in the “sharing economy” where people aren’t always looking to put down roots or make that capital investment…..and the millennials seem to be rewriting the rules.
“In today’s economy, we can rent almost anything we need, including music, movies, clothes and cars. Having all of these options available to us suggests that people’s view of ownership is shifting. It’s natural that this trend extends to our homes, giving people more choice over where and how they live.”