A new study by Harvard University reveals the nation's homeownership rate is falling and has been for eight years. It is down to 63.7 percent in the first quarter of this year.
Tanya Fortman, a broker/salesperson with Keller Williams, is seeing this trend first hand in Kansas City.
"We are seeing rentals on the increase, but now is a great time for investors to take advantage of homes for sale and turn them into rentals."
Millennials aren't taking advantage of home buying because they can't find stable jobs. Those who were once homeowners and lost their homes to foreclosure now have no credit and can't get a mortgage.
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Alyson Bruner can be reached at alyson.bruner@kshb.com.
