ATLANTA: More baby boomers are starting to return to renting after years of living in their own homes. According to data released today, renting increased for adults between ages 50 and 75 from 2004 to 2013.
So, why are boomers returning to renting? Here are a few reasons:
3. Renting offers more flexibility.
Whereas buying a home or condominium is a big commitment, signing a one or even two year lease is a much shorter term contract. So, for boomers who are interested in living somewhere new each year or trying out a new city or town before making a permanent commitment, renting can be a valuable option.