Consensus erupts over trend toward renting

(Flickr photo by abrin523)

Beware the stampede of opinions about potential homebuyers.  Those views are trampling conventional wisdom by asserting that the American Dream is dead or dying.

Last week, momentum swelled around the idea that many folks are choosing to rent a home rather than buy one.  Such consumers fall into two groups: Those for whom it is their only option because of finances and those who lack enough confidence in real estate to risk a decline in the value of their property.

I don’t know that the herd of economists and analysts wiser than me is wrong, but the volume and consistency of reports about the decline of American Dream was remarkable.

(Most of the links below have appeared or will do so in my Weekly Roundup on Fridays, on the Service You Can Trust Facebook page, on Twitter or some combination.)

Just look at the drumbeat of evidence over the last couple of weeks — for example, what James Bullard, president and CEO of the Federal Reserve Bank of St. Louis observed on Friday:

HUD ratchets up LGBT anti-discrimination efforts

The Department of Housing and Urban Development (HUD) says it will pump up its activities to combat housing discrimination against lesbian, gay, bisexual and transgender  individuals and families (LGBT).

New guidance treats gender identity discrimination most often faced by transgender persons as gender discrimination under the Fair Housing Act and instructs HUD staff to inform individuals filing complaints about state and local agencies that have LGBT-inclusive discrimination laws.