Apartments: Young adults prefer renting to buying in suburbs
Who needs a house, anyway? More and more residents are choosing to rent rather than buy, the Washington Examiner reports.
In suburban areas such as Montgomery County, planners are encouraging developers to build more and more apartments. That part is easy; the hard part is making the apartments affordable.
Developers would rather build smaller studio and one-bedroom units, as opposed to two- and three-bedroom apartments, as they offer a higher rent per square foot.
It also comes down to adapting to modern life. Potential buyers would rather not purchase a house because they're more likely to move several times. Workers are expected to change jobs multiple times, and owning a home denies them the flexibility to take jobs in different cities.
[via Washington Examiner]
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