The podcast was really looking at the change in the economy and home buying. A lot of people saw the big downturn in 2008 and are not buying homes, but renting. Who would of thought it and why is it happening?
Some of it has to do with a more mobile society and people basically wanting to rent in the nicer areas that cannot afford the areas they want to buy in.
This article comes from https://www.rentcafe.com/ by Balaza Szekel that talks about the rising population of renters versus home owners.
"The total US population has increased by ~23.7 million people during the past decade, but this growth is far from evenly distributed between the two occupancy categories. The number of renters has increased by more than 23 million, and that of homeowners by less than 700K. In relative terms, the overall renter population has grown by more than a quarter in a decade. Meanwhile the number of owners (and people living in owner-occupied homes) has not only failed to keep up, but in truth, has remained virtually unchanged."
The renters are going to be a lot more prevalent in the housing market. Home owners that have rentals will profit huge. In Cleveland the renters have have went up 16% alone in the last decade alone.
Buying a income property today will probably be a huge benefit for your portfolio. The key is getting real estate that has both income and equity.
Need real estate? I'm Brett call 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona
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Thank you