Demand for Suburban Living, Rental Housing Intensifies
With the future of dense, urban living in question, CNBC interviewed Invitation Homes CEO Dallas Tanner about the suburban boom and the demand for rental properties amid the recent recession. Prior to COVID-19, 48 million households were leasing properties. As roughly 65 million Millennials in the U.S. start to consider buying homes, it is predicted that more of these buyers will be drawn to renting’s attractive flexibility. The demand for single-family home rentals was high before, but now the demand continues to grow, as proven with higher application requests.
The flight to the suburbs is real and growing as coronavirus changes the way people live. Suburban housing is seeing an uptick and leaving the future of dense metropolitan areas in question. Dallas Tanner, CEO of Invitation Homes, joins “Squawk on the Street” to discuss the trend.