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More than half of Gen Z says renting is a better option than buying a home
The Hill ^ | 08/08/2023 | ADAM BARNES

Posted on 08/08/2023 11:26:37 AM PDT by ChicagoConservative27

High housing prices nationwide are leading many to view renting as a smarter move than purchasing a home, according to a report released Tuesday.

More than two-fifths — 44 percent — of renters surveyed by RealPage said that renting is a better option than buying. The top reason among all surveyed was affordability.

Broken down by generations, Generation Z renters led the way, with 51 percent saying renting is the best choice.

For the survey, RealPage asked 25 questions to 2,000 multi-family renters ages 55 and below across the country whose income ranged between $20,000 to $200,000.

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: gen; home; renting; z
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To: ChicagoConservative27

Generally the Gen-Z generation are idiots.


21 posted on 08/08/2023 11:50:39 AM PDT by dpetty121263
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To: ChicagoConservative27

It can be

Depends on many factors

And the market you live in

In Nashville I’ve done great with homes

In Memphis I might rent

If that makes sense


22 posted on 08/08/2023 11:52:05 AM PDT by wardaddy (Why so many nevertrumpers with early sign ups and no posting history till now? Zot them PTB)
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To: ChicagoConservative27
Let's bring a little reality back to this thread:


23 posted on 08/08/2023 11:53:32 AM PDT by Boogieman
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To: ChicagoConservative27

I owned a house, that brcame to be in the extended runway overrun expansion near Norton AFB, and from that purchased a home near Fontana, wwhen the steel mill was shutting down.
Sold that, moved to Ny, and have rented everr since.

Apartments, not ‘condos’, circumvent divorce squabbles over houses, since only the contents can be argued about.

Also, maintenance problems are the responsibility of the lessor.


24 posted on 08/08/2023 11:54:54 AM PDT by Terry L Smith
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To: ChicagoConservative27

What do I know?

If you don not have a PAID FOR HOME at the age of retirement, you will suffer and could easily lose everything as you become priced out of a place to live, while your retirement income, probably SS, remains the same.


25 posted on 08/08/2023 11:55:47 AM PDT by eyeamok
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To: DEPcom

Mortgage is based on amount you paid down

Or amortized and then refi

For rent to be 3.5 times mortgage you’d have to have big equity to have it that low


26 posted on 08/08/2023 11:55:48 AM PDT by wardaddy (Why so many nevertrumpers with early sign ups and no posting history till now? Zot them PTB)
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To: ChicagoConservative27

They are not getting the jobs that they thought they would get to be able to afford a house. With rentals at the crazy prices they are it will be a wonder that they leave their parents’ hones.

Student loans are not helping.


27 posted on 08/08/2023 11:58:54 AM PDT by madison10
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To: napscoordinator

Agree. Maintenance sucks off the money.


28 posted on 08/08/2023 11:59:38 AM PDT by madison10
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To: eyeamok

We are good, all paid for, but there will be no moving. We need to work on what we have and are not exactly physically capable.


29 posted on 08/08/2023 12:03:31 PM PDT by madison10
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To: ChicagoConservative27

The largest gap ever in median income to housing ratio, and they are saying the people just starting out are not buying homes! This revelation is truly shocking!


30 posted on 08/08/2023 12:06:05 PM PDT by bak3r
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To: eyeamok

Is it better to rent or own? It depends on many things. Why does anyone say that one is better than the other?

Are you a young rootless person, who is likely to move in the next couple of years? if so, buying a place is not a good idea. Are you thinking of building wealth and equity long term? Are you planning to live in a certain city or town long term? Is your job stable and income likely to rise? If so, buying makes more sense.

Can you even afford a house where you live? If not, then the decision may be made for you, that you can’t buy anything.

Do you hate yard work? Maybe buying a condo makes sense, instead of a house. But then that all comes back to, are you settled in the community and want to stay there long term.


31 posted on 08/08/2023 12:07:01 PM PDT by Dilbert San Diego
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To: ProtectOurFreedom

The cure for renting is when the landlord gives you the announcement for the rent increase.

A couple of those and renters start to learn their lesson.


32 posted on 08/08/2023 12:08:33 PM PDT by cgbg (Claiming that laws and regs that limit “hate speech” stop freedom of speech is “hate speech”.)
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To: ChicagoConservative27
What age group is Gen Z? Okay just looked it up:

Greatest Generation are Boomer parents.
Boomers (1946-1964)
Gen X (1965-1979)
Gen Y known as Millennials (1980-1994)
Gen Z (1995-2009)
Gen Alpha (2010-2024)

Looking at these age demographics, it becomes obvious who has done the worse to destroy American greatness, basic values, logical thinking/commonsense, and basic morality, not to mention expanded on the Boomers "if it feels good do it" with no concern for standards, meritocracy, and plain goodness.

Keep in mind the numbers above are just birth time frames. What those who were born in those eras did when they grew older or didn't do is their legacy.

I used to blame it on the Boomers (me) for the beginning of the American slide downward. After reading Robert Bork's book, "Sliding into Gomorrah" he makes the point that after WWII, the Greatest Generation were so obsessed with new opportunities/money/success that they let their Boommer kids run wild.

Think the '60's with the free sex, drugs, and rock n roll. That's when American morality really started go down and it's been heading toward that abyss exponentially with each generation. Tell me I'm wrong.

33 posted on 08/08/2023 12:11:13 PM PDT by A Navy Vet (USA Birth Certificate - 1787. Death Certificate - 2021? )
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To: ChicagoConservative27

I think a good portion of these GenZs fear the responsibility of home ownership.


34 posted on 08/08/2023 12:11:41 PM PDT by ought-six (Multiculturalism is national suicide, and political correctness is the cyanide capsule. )
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To: ChicagoConservative27
When I was a new-hire fresh out of college, renting was my only option, THEN, because it put a roof over my head. But it wasn't a PERMANENT option.

I rented until I could save up enough for a 20% down payment, and then I bought something. It was a condo unit and not a single-family home, but it was a start at accumulating equity that I could roll over into something better in the future.

Over the years my salary increased, my equity increased, and then I sold the condo and bought a home.

That's how it's done, but it takes a vision after college and the discipline to make it happen.

Also, one can accelerate the process by getting married and having dual incomes, one to pay the bills and the other to save for the down payment.

-PJ

35 posted on 08/08/2023 12:12:12 PM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
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To: ChicagoConservative27

When I want investing and financial advice….I always go to generation Z.


36 posted on 08/08/2023 12:12:20 PM PDT by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up..)
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To: ProtectOurFreedom

Exactly.


37 posted on 08/08/2023 12:13:06 PM PDT by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up..)
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To: Cletus.D.Yokel

Gen. Z wants to remain mobile.


38 posted on 08/08/2023 12:14:09 PM PDT by caww (O death, when you seized my Lord, you lost your grip on me......)
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To: napscoordinator
Yes, it's always something when you own a house. If you don't keep up with the constant repairs, your home will start losing resale value pretty quickly.

People don't factor that in when they compare owning vs renting. Two of my sons recently bought their first home and the biggest shock for them is not having a landlord to take care of things. They have gotten very familiar with the local hardware stores and handymen!

39 posted on 08/08/2023 12:20:33 PM PDT by SamAdams76 (5,301,904 Truth | 86,921,174 Twitter)
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To: ChicagoConservative27

Will they say that when they reach their sixties and ae still throwing that money down a rabbit hole with nothing to show for it?


40 posted on 08/08/2023 12:20:38 PM PDT by CodeJockey
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