Wealthy Baby Boomers Choose Renting

By Rachel Jefferson

Wealthy baby boomers are choosing to rent rather than own their own home. Homeownership is at its lowest rate in the past 25 years, according to a recent CNBC report, whereas the rate of renting a home is the highest in the past 30 years. This is a result of the younger generation, who has faced the recession, being incapable of saving for a down payment on a home. It is also due to the high-income, middle-aged market choosing to rent (they contribute to 43 percent of rent growth), over owning a home as they get older.

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From:: Property Management

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