More people renting than ever

John's picture

It's no secret, while home ownership still represents the majority of American households, renting homes has grown over the last few years. This article, from the Chicago Tribune, gives specific details on the national trend ( The evidence throughout the Chicago area is also true as major residential apartment buildings have gone up in the city and suburbs. Many homeowners are still underwater on their homes, especially in the condo and town home market, and owners find renting as a good option to pay expenses while waiting for the market to heal. Other home buyers have found investments in homes, condos, and town homes as a way to park cash and make some steady income on the side.