Comments on: Rise of the Renters http://www.creativeclass.com/_v3/creative_class/2008/06/21/rise-of-the-renters/ The source on how we live, work and play Wed, 07 Dec 2011 18:10:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Thomas http://www.creativeclass.com/_v3/creative_class/2008/06/21/rise-of-the-renters/comment-page-1/#comment-35464 Thomas Mon, 01 Nov 2010 10:33:22 +0000 http://zstation/creativeclass/v3/creative_class/2008/06/21/rise-of-the-renters/#comment-35464 There are many reasons people are looking to rent at the moment, sure affordability is an issue but many also prefer renting for the flexibility it affords them, this is especially true for many living in big cities. There are many reasons people are looking to rent at the moment, sure affordability is an issue but many also prefer renting for the flexibility it affords them, this is especially true for many living in big cities.

]]> By: hayden fisher http://www.creativeclass.com/_v3/creative_class/2008/06/21/rise-of-the-renters/comment-page-1/#comment-4572 hayden fisher Mon, 23 Jun 2008 15:34:11 +0000 http://zstation/creativeclass/v3/creative_class/2008/06/21/rise-of-the-renters/#comment-4572 Very interesting, we'll have to see if these trends hold when the market bounces back. The rental market is tough. I buddy of mine put one of his rentals on Craig's list the other day and received 38 calls the first hour. It's tough out there for renters. I would also contrast these findings with those that show increased entrepreneurship and home offices. Starting a company somewhere makes it less likely that one will move from the place. Also to be considered is the powerful mortgage interest tax deduction that led me to buy my first and now second houses. Also the capital gains exemption if you buy and resell and have lived in the house during at least 2 of the last 5 years. Real estate remains a powerful investment vehicle, even in today's market for those who know what they're doing. Unfortunately, most of the people caught in the real estate bubble either took speculation to reckless extremes or were those convinced by thirsty realtors and mortgage brokers to buy houses they couldn't afford via borrowing and lending schemes. All that said, I resisted buying a house for a long time for all of the reasons you point-out so that sentiment certainly is out there, whether it develops into a full-blown trend and cultural shift remains to be seen. Very interesting, we’ll have to see if these trends hold when the market bounces back. The rental market is tough. I buddy of mine put one of his rentals on Craig’s list the other day and received 38 calls the first hour. It’s tough out there for renters.

I would also contrast these findings with those that show increased entrepreneurship and home offices. Starting a company somewhere makes it less likely that one will move from the place.

Also to be considered is the powerful mortgage interest tax deduction that led me to buy my first and now second houses. Also the capital gains exemption if you buy and resell and have lived in the house during at least 2 of the last 5 years. Real estate remains a powerful investment vehicle, even in today’s market for those who know what they’re doing. Unfortunately, most of the people caught in the real estate bubble either took speculation to reckless extremes or were those convinced by thirsty realtors and mortgage brokers to buy houses they couldn’t afford via borrowing and lending schemes.

All that said, I resisted buying a house for a long time for all of the reasons you point-out so that sentiment certainly is out there, whether it develops into a full-blown trend and cultural shift remains to be seen.

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