The benefits of renting are challenging the American Dream of home ownership

When an entire culture considers buying a home the fulfillment of the American Dream, renting can seem appear like a fallback position. But when the economy turns upside down, renting has a strong appeal to many people.

MSN.com talked to residents and experts to boil the pro-renting sentiments down to 6 key reasons.

Residents talk about the economic benefits of renting and not sinking cash into a home’s upkeep, especially when the value of the home is uncertain.

Another important positive of renting is mobility. With the job outlook so uncertain, a renter who can pick up and move to a part of the country where there is opportunity has a decided advantage over a homeowner who can’t sell their home.

One long-term effect of this economic downturn may be a different attitude about the benefits of renting, and a challenge to the sentiment that buying a home is the best solution for everyone. That will be good for residents, and it will be good for our industry as well.

clipped from realestate.msn.com

6 reasons to rent

As many homeowners find their American dream turned into a nightmare, it may be a good idea to reconsider renting as a worthy lifestyle choice. Here, renters share some of the benefits as they see them.

By Karen Aho of MSN Real Estate

“There’s a culture of homeownership and the presumption is that homeownership is the right or best tenure choice,” says Eric Belsky, executive director of the Joint Center for Housing Studies at Harvard University. “The language we use underscores that.”
1. To escape the hidden costs of homeownership
2. Access to urban amenities
3. Cash availability:
4. Simplicity
5. Mobility:
6. Diversity: