Quote:
Originally posted by Wayne at Pelican Parts
Your investors are right, from a purely mathematical standpoint. However, when you factor in the emotional part, most people would not rather rent.
-Wayne
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That's true in California, but in most parts of the country as an age group grows older they move into a more afluent situation, their jobs pay more, they've saved some money, and buy instead of renting. What is interesting is that as sociofascist strength in an area increases, the general trend is to lower home ownership rates. That's what one should expect.
For example:
2005 homeownership rates by family.*
California 59.7%
South Carolina 73.9%
*
Home ownership rate by state.