A Guest Piece by Robert Eisenstein of HomeRun Homes
It has been an odd year for the Real Estate market, and as a result, the Rent to Own Homes market, as well. There was so much going on in the market, while, at the same time, so little truly happened. This paradox has put us in a reflective mood, and we would like to take a look back at the past year, and some trends that impacted the Rent to Own market.
In order to help us in our review, I have chosen 5 of our Blog topic headlines from the previous year, which truly tell the tale. We ran a story titled, “10 Million New Renters?“, which eluded to the dramatic increase in the amount of people renting a home vs. buying a home (we have also analyzed the “Rent vs. Buy” debate in multiple different posts).
With the influx of new renters, we also focused on properties and the Housing Market indicators, of which were quite fickle over the course of the year. One of our posts was titled, “Do the Housing Numbers Make You Dizzy?”, to which the response was a resounding, “YES!”. In line with the housing market, we also posted, “Homes For Under $800/Month? Bargains Are Everywhere !”, which showed us many major cities across the country where prices had dropped to historical lows. More recently, we posted, “Free Land Offers ? Are Things That Bad ?”, which took a look at a vast amount of cities and states that are offering free land in order to draw people back to these dwindling areas.
With the four above-mentioned posts, the market conditions have scared a lot of people into renting vs. buying, and most people will chomp at the bit for an option to buy a home when they are renting it already, therefore, this has been pretty positive for people looking for Rent to Own Homes.
On a more positive note, the 5th post that we deemed important to the market is, “Revival and the Life Cycle of Neighborhoods”, which tells us that the market is truly cyclical, and that there is light at the end of the tunnel. This outlook should give people more confidence in knowing that the properties that they Rent to Own can potentially grant them their slice of the American Dream. It’s all about confidence in the market and knowing that land is at a premium.
Do you have any comments on this? We would love to hear them !
Happy New Year!