Housing prices: 'We're looking at 10-20% discount off retail prices,' realtor says
October 20, 2022
Kinloch Partners Co-Founder and CEO Bruce McNeilage gauges the financial temperament of the single family housing market, as well as looking at home prices, construction costs, and rising mortgage rates. Don't Miss: Valley of Hype: The Culture That Built Elizabeth Holmes
Renting a brand new house offers several advantages, including minimal maintenance, modern amenities, and the potential for higher rental rates, while also avoiding the upfront costs and responsibilities of homeownership.
Build-to-rent (BTR) communities, offering single-family homes specifically designed for renters, are a growing trend in the United States, providing an alternative to traditional homeownership, especially for those struggling with affordability or seeking a more convenient rental experience.
A societal shift towards renting houses, driven by factors like rising home prices, economic uncertainty, and changing lifestyle preferences, is impacting the housing market, with more people, particularly younger generations, choosing to rent over buy. Here's a more detailed breakdown of the reasons behind this trend:
Particularly for those who cannot afford or prefer not to own, and by offering flexibility and affordability . They also contribute to economic stability and community development. Here's a more detailed look at the importance of rental houses:
Cities need single-family rental houses because they provide a housing option that offers more privacy, space, and a sense of community compared to apartments, catering to a diverse range of renters seeking a more detached living experience with access to a yard, while also helping to address housing affordability issues by providing alternative options to high-priced home ownership in certain areas; this is especially relevant for families, individuals with pets, or those who value quieter neighborhoods. Key points about single-family rentals: Variety of living needs: They cater to different lifestyles, including those who want a yard for gardening, families needing extra space, and people seeking a quieter environment compared to apartment complexes. Affordability: Can be a more accessible option for renters who cannot afford to buy a home, especially in high-cost housing markets. Community feel: Often located in established neighborhoods, providing a sense of belonging and community for residents. Flexibility: Allows for easier mobility compared to homeownership, as renters can move without the burden of selling a property.
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