The New Breed of Renters in Chicago

During World War II, and the great depression before it, home ownership in the United States stood at just underneath 50%. Although much of the country could have easily qualified for new homes, there was a stigma that came with taking on so much debt all at once, and with losing mobility. Renting or squatting gave individuals the ability to quickly pick up and go where the jobs were. Of course as the nation recovered and set new standards for normalcy following the war and that percentage rose to 70%, give or take.

Since that point, however, home ownership has fallen back and is now hovering around 66%–and on its way down. In fact the percentage of homeowners in the United States is expected to drop to 62% by 2015.

You can of course point out that between student loan debt, unemployment, foreclosures, and poor job prospects there are simply fewer people out there who are able to invest in home ownership—but the truth is more interesting. Many renters, and Chicago apartment Purchase Pills Pills lamelne zavese cena renters in particular, are a new breed who rent by choice, not because they have to rent. According to investigations and reports by a number of organizations including Kephart  Architects, a rising number of renters have the means and disposable income necessary to get home financing, they simply chose not to. As in the Great Depression there is little confidence in property values and individuals are valuing the simplicity of renting and the mobility that renting provides to allow them to move to where the jobs are.

This new breed of renters is changing the industry, especially in terms of new development. More common are apartment buildings with increased storage, loft style high ceilings, walk in closets, and granite countertops. At Core Group we understand and respect this choice and take special steps to ensure that we understand your position and look for the type of apartment most suitable for you, whether that means a Spartan studio for freshly minted college graduates, or a condo style set up for those who are truly renting by choice and enjoying the city while they are here.


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