By Kate Nash
or a while now, the United States citizens have contended with the booming housing market. The sellers’ market raises the wealth of already established homeowners, while high prices keep homeownership out of reach for many Americans. As a result of the housing boom, a new demographic of home renters is emerging: people who could previously afford a home but are now being priced out and left with no option other than to become renters. The market situation has seen most people sell their current homes to purchase their dream homes. However, some find these homes a bit expensive to own, pushing them into temporarily renting as they wait for home prices to cool off. The home rental trend is associated with the high cost of housing, which forces many people to rent WWW.THEPOWERISNOW.COM
what they can’t afford. Although home prices are sky-high, homes are quickly selling. Demand and pricing have recently been boosted the epidemic. Nevertheless, like so many other things, this was already happening before the pandemic. During the Great Recession, when the housing bubble burst and millions of Americans lost their houses to foreclosure, investors rushed in to buy them at a bargain. Single-family rentals allow people to live in a home without having to pay the high expense of purchasing one. “There is a supply-and-demand imbalance and, a rental market is an option for individuals who can’t afford to buy homes. Said Kaufman, a real estate specialist. As per Harvard’s Joint Center for Housing Studies, monthly housing expenses are considerably l
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Be Careful You Might Become a Renter Again!
