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Being A Landlord Looks Good – Number Of Families Renting At A 13 Year High

Real Estate InvestmentFor all the bad news and re-forecasts of the housing market there is one group of people that are not complaining – Landlords. The housing crisis has forced jaw dropping numbers of homeowners out of their homes and made for a challenging home buying market, it has also left a bad taste in the mouth’s of millions of Americans, even challenging the concept of home ownership in general.

According to the Census Bureau, American home ownership has fallen to its lowest level in 13 years. The United States home ownership rate has dropped to 65.9% in the second quarter of 2011. This new number is a percentage point lower than the second quarter of 2010 and half a percentage point below the first quarter of 2011.

Senior U.S. economist with the research firm Capital Economics, Paul Dales says the increase in the home ownership rate seen during the housing boom has been more than completely wiped out by the bust. And many believe the decline is not over yet. Dales see’s the poor economic climate, the double dip in house prices, the high number of foreclosures, and tight credit conditions as reasons why the home ownership rate will continue to fall.

“With another 3 million foreclosures in the pipeline and no sign of a major improvement in credit conditions or the labor market, demand for owner-occupied housing is likely to remain weak for some years yet,” Dales said.

Of course the other side of the coin is high demand for rental homes. While the home ownership rate is at a 13 year low, the number of families renting is at a 13 year high at over 34% in the 2nd quarter of 2011. This demand has driven rental prices up.

Dales says real estate investors in the residential rental market could see rental yields of more than 5 percent over the next few years. It remains to be seen how the excess supply of housing due to foreclosures and the combination of weak demand and high supply can translate into higher house prices any time soon.

Looking to get into real estate investment? Buying properties through trustee sale, REO or even Short Sale can be a lucrative real estate investment space for those Real Estate Investors willing to buy and hold properties as opposed to Fix and flip.

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Stephen

Hi I'm Stephen Garner, I'm just a guy in the title industry {in Phoenix} trying to change how real estate agents market themselves and their services. To that end, I teach my clients HOW TO leverage sales technologies like WordPress, Content, Video, Camtasia, Final Cut X, iMovie and indexable IDX solutions to convey value and help your ideal client find you online when they are most interested in learning about you and your services. I work for escrows. Hire me!

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