Housing Blues Makes Renting Red Hot

renting vs. owning
renting vs. owning

Did you participate in any "Psychology 101" experiments in college? In the name of science you're asked to complete a task. Meanwhile, the researchers track other aspects of your behavior and try to establish greater understanding about human nature. Most experiments are designed so you aren't even aware of what the researchers are really monitoring.

The same is happening right now, in this housing market. While analysts are measuring housing stats they're also watching something else: more homeowners becoming renters. It's not an experiment per se, but, it does have a psychological component. It starts with the overall blues regarding the market's burst bubble. But, the blues might also provide a peek into changing attitudes about the value of renting over home ownership.

What does this mean for the average renter? Potential bargains - for the moment.