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Why we rent - The Changing Nature of the American Dream
I believe that many rental families who are upwardly mobile for jobs and education will not buy unless they will be in the area for a minimum 5 years.  I have residents who are former homeowners who say they will not buy until their youngest child is in high school.... - 
The American worker of today relocates often and craves flexibility. The idea of working one job for one company for the rest of their careers is anathema to them; they will change careers several times and likely live in several different geographical locations as they mature. That desire for flexibility doesn’t line up very well with a 30-year mortgage on a non-liquid asset that you’re required to live in. In fact, the rate of home ownership has slipped to just 65% in the first quarter of 2013, the lowest ratio since 1995. 
Mortgage payments are also generally higher than rents are, due to the long-term nature of buying property. When a person pays a mortgage, they’re actually paying two different sets of fees- the interest on the mortgage, and the principal. It’s true that mortgage interest is tax deductible, but only if you forgo the standard deduction on your taxes, ... more

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