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May 25, 2011

A new generation of renters emerging

  • When the housing bubble burst four years ago, 31.6 percent of households were renters. Now, it's at 33.6 percent and rising.
    • By DEREK KRAVITZ
    AP Real Estate Writer

    WASHINGTON — A growing number of Americans can't afford a home or don't want to own one, a trend that's spawning a generation of renters and a rise in apartment construction.

    Many of the new renters are former owners who lost homes to foreclosure or bankruptcy. For others who could afford one, a home now feels too costly, too risky or unlikely to appreciate enough to make it a worthwhile investment.


     
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