Renting is the New Buying?

Not really. It’s just that,  according to the Washington Post’s WonkBlog, renting is taking over in some of the demographic groupings that traditionally have been firmly in the homeowner camp.  These include retirees and well established two-wage families, among others.

There are lots of reasons for this increase in those opting for renting over buying–personal choice, lingering fear from the housing meltdown during the recession, lack of access to mortgage financing among them.  But some commentators are worried about the fact that without homeowners, many more will be without the safety net that equity in ones home can provide.

It is the time of shifting economic sands. All of us need to be aware of the fact our future economic security is shifting perhaps more than we reckoned on.  Home ownership can be one way to solidify the future.