Renting has reached its peak, and homeownership rates will soon improve, according to the Oregon Office of Economic Analysis.
The vast majority of 20-somethings rent, but an analysis of the Portland, Ore., metro statistical area reveals that Americans aged 25-35 tend to set roots and buy a home. “In fact, age 35 in Portland is the point where half of the population rents and half owns,” the article says.
In a decade, many of the multifamily renters, the bulk of which are 20-somethings, are projected to own a single-family home. As Americans this age represent a large share of demographics, the number of renters will decline.
