July 28, 2010

As the real estate market turns, so too does the real estate consumer.

Many citizens are no longer sold on the benefits of owning a home – some are just as happy to rent — and instead of seeing owning as a benefit, they see it as equal to or even less appealing than renting.

This trend is being seen from the US Commerce Department and landlords across the country.

The Commerce Department, on Tuesday, reported that the percentage of privately owned homes in the U.S. slid in the second quarter, but rental vacancies held steady.

Landlords across the US are reporting an increase in new leases as a result of foreclosures pushing former owners into the rental market.

Anyone seeing similar trends in Canada?

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