A growing share of people in the second half of life, many of them longtime homeowners, are choosing to rent instead of own https://t.co/7D3DwmWmvr ...

Industry Trend - Rent the Runway introduced young consumers to wardrobe rental [1] - Nuuly seems to be the one actually making wardrobe rental work [1]

Housing Market Trends - The American dream of homeownership is declining due to rising costs [1] - Home prices are at record highs, and mortgage rates are at 15-year highs [1] - Insurance costs have increased almost 75% since 2010 due to climate disasters [2] - Qualifying for a typical mortgage required a household income of $127,000 last year, a 60% increase in just 4 years [2] - It is now cheaper to rent than to own in 49 of the 50 largest US cities [2] - There is a housing shortage of 5 million units, a result of the 2008 housing crash [2] Shifting Demographics and Preferences - First-time buyers only purchased 24% of homes last year [4] - A quarter of first-time buyers relied on parental support for down payments [4] - The average age of first-time buyers was a record high of 38 last year, up from 28 in 1991 [4] - Younger people may prefer spending on experiences like travel or education and prioritize mobility over homeownership [5] Financial Implications of Homeownership - Homeowners are traditionally 43 times wealthier than renters [3] - Homeownership is no longer a guaranteed way to store wealth due to fluctuating payments and potential losses [3] - Older homeowners may find it advantageous to sell now to capitalize on equity and avoid rising costs [5]

Renting a home is a luxury. ...

Housing Market Trends - Renter households in the US are growing three times faster than homeowner households, indicating a significant shift in American home ownership [1] - Restrictive zoning laws have limited housing construction [1] - Mortgage rates have more than doubled in the last five years due to inflation [2] - Historically high home prices are out of reach for most Americans [2] Corporate Landlords & Investment - Corporate landlords like Predium are benefiting from the increase in renters [2] - Corporate landlords' business model has faced significant criticism regarding livable and affordable housing [2][3] - Wall Street money is attracting big companies like BlackRock, KKR, and JP Morgan Asset Management [3] Economic Factors - The cost of raw materials has increased, coupled with a labor shortage [2]

Rental Market Perspective - The company focuses on providing rental housing options, particularly for those who may not be able to afford homeownership [1] - The company believes renting offers access to desirable communities and good school districts [2] - The company states that many of their 90,000 houses residents may never own a home due to factors like FICO scores and student loan debt [2] Social Impact - The company views its rental services as creating more access to better communities for renters [2] - The company expresses concern about the treatment of renters [1]

Today, the number of renter households in the US is growing three times faster than homeowner households, signaling a major shift in American homeownership. This trend traces back to the 2008 housing crash when construction slowed dramatically and the US never caught up. Restrictive zoning laws have limited where and what kinds of housing can be built.The cost of raw materials has gone up, coupled with a labor shortage. And in the last 5 years, mortgage rates have more than doubled due to inflation. This ha ...

More Americans are renting instead of buying, a major shift in the housing market.@sonalibasak breaks down what’s driving the change.Watch the full episode of Bullish on the Bloomberg app https://t.co/oSp6OsKcPV https://t.co/SFnAMMR6y7 ...