NPR's Morning Edition had an interesting story yesterday about the hot new personal real estate trend: renting instead of buying.
There are several reasons for the housing change of heart.
Government data show that with so many homes and apartments on the market, rents are relatively low.
Some former homeowners who got stuck with house that fell in value are finding renting more to their liking nowadays.
And even Uncle Sam, which via the tax code and other programs has been a advocate, partner, enabler — you pick or add your own term — of the housing industry is starting to see things a bit differently.
A number of Obama Administration officials, says the radio spot, have expressed concern that there was too
much of a focus on homeownership in the past. One official told NPR that
"rentals are better financial options for many Americans."
It's good to see some folks in Washington finally getting a handle on an issue I blogged about in When renting is the right choice back in 2006.
Related posts/stories:
- When renting is the right choice
- Get richer by renting
- Homebuyer tax credit extended
- The federal homebuyer credit's 'exit strategy problem'
- Tax policy and the American homeownership dream
- Did the home sale tax exclusion kill the economy?
- The unfairness of housing tax breaks?
- Is it time to kill the mortgage interest tax deduction?
- Mortgage interest deduction madness
- Should rich homeowners get a bigger mortgage interest
deduction? - Home improvements and your taxes
- Appealing your property tax appraisal
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