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HOUSING – PRimage NEWS BYTES

Tuesday, March 27th, 2012

Here at PRimage we regularly monitor the trending topics in the housing sector – in the UK and across the pond.  Some recent news and stats that have caught our attention ….

In the States there is a lot of debate on ownership versus rental …. It seems that in 71 percent of the cities in the U.S., owning is now currently cheaper than renting.

In 2011, 1.4 million new households entered the rental market due to foreclosures and demographics — i.e., the 80 million members of Gen Y are at their prime time for starting new careers, getting married and having kids. At the same time, the number of new homes being built has dropped substantially. As a result, the demand for rental properties has skyrocketed.

Bank of America is launching a pilot program that will allow homeowners at risk of foreclosure to hand over deeds to their houses and sign leases that will let them rent the houses back from the bank at a market rate.

A survey released earlier this month from the National Apartment Association and Houston-based J Turner Research gives multifamily owners insight into an important demographic: college students.

http://multifamilyexecutive.com/student-housing/naa–j-turner-survey-gives-multifamily-owners-insight-into-college-age-demographic.aspx