Recently, a CNBC news reported that a new trend has emerged with many city condo owners, once they sell their condominiums they’re moving into luxury rentals, rather than purchasing another condo. The articles stated:
“Between 2009 and 2016, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…
Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”
To many, especially elderly think its easier, less headaches to rent then to buy a condo. What are your thoughts?
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Updated: 1st Quarter 2018