76% Of Consumers Say Renting Is A Better Choice

Amy Houk of http://www.marketwatch.com/ had this to say in a recent article:  Despite low mortgage rates and reduced home prices, an increasing percentage of consumers say they believe renting is a better choice than owning a home in the current real-estate market, according to a survey from the National Apartment Association, released this week.

The survey of more than 2,000 U.S. adults found that 76% of consumers deem renting to be more favorable than owning a home these days, a 5% increase from 2008.

"While some may want to declare the housing crisis over, consumer patterns of behavior are showing otherwise," said Douglas Culkin, president of the National Apartment Association, in a news release. "The findings in this survey mirror what our members are seeing throughout the country, especially in areas of the country that are experiencing the first signs of economic recovery."

One of those declaring the housing crash over: Mark Zandi, chief economist at Moody's Analytics. Listen to what he had to say in a MarketWatch radio report. And read more real-estate news in this week's pages, including where the bargains are for house hunters and a Realty Q&A on credit score tips for the best mortgage rates.

One reason some people see renting as a better option today: the job market.

"The simple fact remains that in a bad economy, people must make whatever changes necessary to improve their situation, especially if they have lost their job," Culkin said. "Sometimes this might mean moving to another city where there is more opportunity, and if you're tied to a mortgage, you don't have the same ease of mobility as you do if you lease your home."

America Needs to Get Over Its House Passion

A recent article by Richard Florida in Atlantic Monthly explored the relationship of homeownership to overall happiness and financial well being.  Mr. Florida makes a great case for renting.

Here's the link to the article:

http://www.theatlantic.com/national/archive/2010/04/america-needs-to-get-over-its-house-passion/39543/?source=patrick.net