Aug 30
With home prices in the metro area down an average of 32% in the past five years, many don’t want to take a huge loss when they decide to move. They want to wait to see whether they can rebuild their equity. So they rent.
“People just really don’t want to be landlords, and they really have no choice,” said Dennis Dickstein, a Realtor at Real Estate One in Farmington Hills, who estimates that 20% of his deals are leases.
via Free Press.
