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: Continue reading

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Weekly Roundup: Best and worst cities are listed

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out another of today’s three posts.

AN EMMY WINNER LISTS HER HOME IN SOUTHBURY, CONN.

BILLIONAIRE OWNER OF A WEEKLY PET-SUPPLIES COMPANIES SPENDS MORE THAN CHICKEN FEED FOR A SOHO PENTHOUSE

CONGRESSWOMAN’S HOUSE, TWICE IN DEFAULT, NOW IS LISTED AS A SHORT SALE

ACTRESS PICKS UP A PRETTY FINE PENTHOUSE

BROKER DISPELS RUMORS THAT BUYER OF TRUSTED MAN’S SUMMER HOME LOOKS LIKE LADY GAGA


FED OFFICIAL SAYS IMPEDIMENTS TO HOME SALES Continue reading