Opportunity in the rental market is really warming up. Rates are rising, vacancies are dropping, and investors are looking to purchase properties for long-term rental revenue.
Landlords have enjoyed the edge since the house crisis as increased interest from renters coincided with little new supply of rental units. Rising mortgage rates, tighter borrowing needs and higher home costs have taken many people out of the house purchasing market. And, many remain burned by the housing crash and don?t need to have a house.
The most recent Rental Screening Solutions industry report released by TransUnion found that average rental costs have increased just about 4% across the nation last year while the credit possibility of candidates for those properties as measured by TransUnion's Resident Scoring Model has steadily improved, with a median improvement of 1% in the last year.
Even though buying a home is 35 percent cheaper than hiring over the long run, a rising share of US citizens choose to sign a lease instead of a deed. Gurus predict home ownership will fall further in the next few years.
Buying isn't the "American Dream" any more. The American Dream used to be equal in the American psyche with home possession. Not so anymore. Today, the hottest definition of the North American Dream is retiring with financial 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 information, home-ownership rates are predicted to fall below 65% in 2014, the lowest level since the mid-1990s and a benefit to real estate investors who will see increased requirement for their rental properties and continued increase in average leases and home prices.
These rising home prices will inspire American citizens to move, but to more cost effective areas where housing is more reasonable. Metropolitan areas like Atlanta, Dallas, Houston, Indianpolis and Kansas Town 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/.
Landlords have enjoyed the edge since the house crisis as increased interest from renters coincided with little new supply of rental units. Rising mortgage rates, tighter borrowing needs and higher home costs have taken many people out of the house purchasing market. And, many remain burned by the housing crash and don?t need to have a house.
The most recent Rental Screening Solutions industry report released by TransUnion found that average rental costs have increased just about 4% across the nation last year while the credit possibility of candidates for those properties as measured by TransUnion's Resident Scoring Model has steadily improved, with a median improvement of 1% in the last year.
Even though buying a home is 35 percent cheaper than hiring over the long run, a rising share of US citizens choose to sign a lease instead of a deed. Gurus predict home ownership will fall further in the next few years.
Buying isn't the "American Dream" any more. The American Dream used to be equal in the American psyche with home possession. Not so anymore. Today, the hottest definition of the North American Dream is retiring with financial 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 information, home-ownership rates are predicted to fall below 65% in 2014, the lowest level since the mid-1990s and a benefit to real estate investors who will see increased requirement for their rental properties and continued increase in average leases and home prices.
These rising home prices will inspire American citizens to move, but to more cost effective areas where housing is more reasonable. Metropolitan areas like Atlanta, Dallas, Houston, Indianpolis and Kansas Town 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 a speculator, author and founding figure behind Norada Real-estate Ventures รข€" a state property investment firm providing turnkey investment property in expansion markets around the U.S.. For more articles like Welcome to the Rental Boom!, please feel free to visit our Property Investing Blog where it was initially printed.
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