Forget Interest Rates: America is the Renter Nation

Aug. 19, 2022 - PRLog -- The United States does not rank particularly high among other high-income countries when it comes to homeownership.

Interest rates, rents, and the world economy all play a part.

The national median rent was $1,827 a month in April, up 16.7% from a year ago, according to a report from Realtor.com. Yikes!

According to Census.gov the U.S home ownership rate stands at 65.4%. According to Federal Reserve Economic Data, the median price of houses sold in 2022 is $428,700. Looking at the reasons behind differences in homeownership across countries can be difficult. Each country has its own culture, demographics, policies, housing finance systems, and, in some cases, a past history of political instability that favors homeownership (Butrica and Mudrazija 2017). However, the reasons behind the median house price is not complicated. You may ask why?

The reason is we are becoming a renter nation. Investors should buy and hold.

Read more: https://wyominginvestor.com/forget-interest-rates-america-is-the-renter-nation