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NAR: Renting on the Rise

  • January 5, 2012

by Erin Calandriello

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Homeowner occupied units

On his blog today, National Association of Realtors Chief Economist Lawrence Yun wrote about the growing trend of renters versus homeowners in the country.

From Yun:

Every year about 2.5 to 3 million additional people are added as the number of births run at around 4 million per year, deaths at 2 million, and 1 million or so are added through immigration inflow. Normally, such population gains would translate into 1 million household formations each year, which would directly translate into 1 million in housing demand in the form of either renters or homeowners. But household formation came to a halt because of difficult economic circumstances, with more people doubling/tripling up and a greater number of young adults living with their parents.

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Renter occupied units

This article originally published at http://chicago.urbanturf.com/articles/article/renting_on_the_rise/4865

Choose an edition: Wash DC | Chicago