Renting vs. Buying

The American Dream as we know it includes owning your own home with a white picket fence and having 2.5 kids. But times, they are a changin’. While 70% of Americans say that they do want to own their own home someday, they do not believe it is a necessity when it comes to the fulfillment of their American dream. Due to economic circumstances, renting is becoming a more appealing option. This is due to the fact that buying a house is currently not considered a particularly wise investment as it is less likely to build equity and wealth by doing so. Also, with the volatile job market, you never know when you may need to pick up and move for a new job, so not owning a home (and renting) makes it much easier to do what is needed. The number of Americans who own their own home has decreased, while the number of renters has increased. It seems as though the American dream has been updated. Read the full article here: http://m.theatlanticcities.com/housing/2013/04/home-ownership-no-longer-essential-component-american-dream/5207/