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More than half of current renters plan to be homeowners within 5 years

By , on February 25th, 2013

More than half (52 percent) of current renters said they anticipate buying a home in the next five years, according to a survey conducted by ORC International. Tenants with children under 13 are most likely to buy a home with 69 percent of them responding that they anticipate becoming a homeowner in the next five years followed by single family tenants in general, with 60 percent of those tenants anticipating buying a home and just 44 percent of apartment renters planning on buying a home within five years. [...]

Apartments and Residents Contribute $11.6 Billion to Missouri’s Economy

By , on February 14th, 2013

Apartments and their residents in Missouri contribute $11.6 billion to the Missouri economy and support 276,000 jobs, according to a report by The National Multi Housing Council (NMHC) and the National Apartment Association (NAA). The report says there are 409,198 residents living in 271,500 apartment homes in Missouri with spending power of $4.6 billion. [...]

Number of homeowners becoming tenants on the rise

By , on February 5th, 2013

Over 35 percent (35.1) of tenants were previously homeowners, according to a survey by Apartments.com conducted in the 4th quarter of 2012. This is a fairly significant increase from a year ago when 33.6 percent of tenants reported they were previously homeowners. The most common reasons given for the change from homeowner to tenant were affordability and the flexibility in location. While it was just 5th on the list, it is worth noting that the loss of a home due to foreclosure or divorce increased nearly 90 percent in the past year as a reason for converting from homeowner to renter. [...]

Demand for rental property likely to increase over next two decades

By , on January 7th, 2013

dennis-norman-realtorIf you have tried to buy a rental property lately in St. Louis then you have discovered you are not alone and the competition for good rental property is quite intense. The reason is simple, experienced investors as well as new ones see real estate as a safe investment and, in many ways, a much better alternative to other investments. Part of the reason for this is the demand for rental housing, brought on as a result of many former homeowners that have been forced, or have chosen, to rent instead of own and “would-be” homeowners that are unable to meet tougher requirements for mortgages thereby forced to remain tenants. [...]

St. Louis Area Renter Occupied Housing On the Rise While Owner Occupied Housing Declines

By , on October 28th, 2012

The St. Louis area has seen a fairly dramatic change in the make-up of the housing occupants with a shift from home-owners to renters over the past six years. After the crash of the real estate market we have experienced, as well as massive unemployment and a weak economy, this is not surprising, but is something that I think needs to be recognized. The five-county St Louis core market (St Louis County, St. Louis City, St Charles County, Jefferson County and Franklin County) as a whole saw owner-occupied units drop almost 3.5 percent during the period while, at the same time, renter-occupied units increased almost 15 percent. [...]

Homeownership in St. Louis is 53 percent cheaper than rent according to Trulia report

By , on September 14th, 2012

Should I rent or buy a home in St Louis?  This is a question that I’ve been asked dozens of times over the past couple of years and one that given the fact that home affordability is at an all time high and mortgage interest rates at an all time low, is generally easy to [...]

Should you buy or rent a home in St. Louis?

By , on August 2nd, 2012

Assuming you plan to stay put for 3 years or more, buying a home is a better financial decision than renting a home, according to a new report by Zillow. To arrive at this conclusion, Zillow analyzed the “breakeven horizon” in more than 200 metropolitan areas and 7,500 U.S. cities to determine how many years it would take owning a home before it becomes more advantageous than renting the same home from a financial perspective. In more than 75 percent of those metros analyzed, within about 3 years a homeowner would break-even on owning a home versus renting a home. [...]

St. Louis home prices falling;  St Louis rents on the rise

By , on July 3rd, 2012

A report just released by Trulia today which is based on the for-sale homes and rentals listed on Trulia, shows that asking prices for Saint Louis homes for sale decreased 2.4 percent from a year ago however Saint Louis rental rates increased 3.2 percent during the same period. [...]

Report says housing market recovery to be led by demand by investors for rental property

By , on May 16th, 2012

According to a new report, The Shifting Nature of U.S. Housing Demand, by The Demand Institute, average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent. From 2015 to 2017, the study projects annual increases between 3 and 4 percent. This recovery will not be uniform across the country, and the strongest markets could capture average gains of 5 percent or more in the coming years. [...]

St Louis makes list of 100 best places to invest in rental property

By , on March 16th, 2012

St Louis made the list of the “Best 100 U.S. Markets to Invest in Rental Property“, developed by HomeVestors and Local Market Monitor, coming in right in the middle at number 50.  Las Vegas was in the number 1 slot and California was the star of the show with 12 metros on the list

“There [...]