In 2019 alone, $512 billion in rent was paid to landlords

Landlords have had a very lucrative decade.

During the 2010s, U.S. renters paid about $4.5 trillion in rent, according to Zillow. That’s more than the 2018 GDP of the world’s fourth-largest economy, Germany.
In 2019 alone, renters paid out $512 billion in rent.

The total amount of rent paid in 2019 is also higher than the entire 2018 GDP of Thailand, which was $505 billion, and a little less than Argentina’s $518 billion.

The total amount of rent paid in 2019 was 2.9% higher than in 2018, with 43.6 million people renting across the U.S.

In 2019, multifamily housing alone had record-breaking numbers in terms of occupancy. More people, younger generations specifically, are opting to rent instead of own because of student loan debt or other reasons.

What has stopped many individuals and families from purchasing is not having the education on what loan programs are available to them. With State down payment assistance and other low down payment options there is a way to buy a home in most cases.

Education is what EducateHomeBuyers.org is all about. Teaching future homeowners the process or steps in buying a home and making good financial decisions.

Get started by registering for a class by clicking here!

Source: Housingwire.com