Rental households have reached the highest levels since 1965. However, the top renter regret is not purchasing sooner. Help your realtors understand the cause of this rental spike and how you can partner to help turn their renters into homeowners.
- Timeliness: Current topic worth sharing
- Expiration: 12/31/17, will then require updated data.
- Over the last 10 years, the total number of households grew by 7.6 million, but homeownership has remained flat. These new households are renters.
- Current renter percentage at 36.6%, approaching 1965 levels of 37%
- In 2016, 65% of households headed by <35 were renters.
- Renting is up across different demographics; whites, blacks, and hispanics.
- 72% of renters say they would prefer to own a home.
What’s behind this trend?
- Financial collapse led to many short sales that made previous homeowners ineligible for credit.
- Millennials carrying larger student-debt which hurts their debt to income ratios
- Incomes not rising as quickly as home prices
How can we help?
- Communicate value of ownership vs. renting
- Dispel down payment myths. Let customers now that they can get loan requirements that only require 4-5%, and those can be a gift.
- Educate about new Fannie Mae debt-to-income ratios
(You can present the slide presentation right from here!)
Supreme Insight has 3 flyers that highlight the value of owning vs. renting. You can easily customize these flyers with your own branding. If you need help, shoot Perry an email.
- Navigate to supremeinsight.com by selecting any of the flyers below.
- Select the marketing tab
- On left, select marketing materials
- Select "On Demand Flyers"
- hit CTRL F and type "rent" in the search field.
- You will see the flyers highlight. You can now select and customize the flyer you like.