I’ve talked to many of the people who rent homes and condos from us both here in San Diego and elsewhere about their lives, and, although they have great jobs, most of them are not in a position to buy homes–would like to–but don’t know if it will ever be possible for them. In addition, they don’t know if they’ll keep their jobs long enough to be able to retire–ever–and on and on.
Other friends who also own lots of rental properties tell me they hear the same things from their tenants–people with great jobs, who can’t get ahead.
When my parents started renting properties out years ago, it seemed people would rent for a shorter period of time, then buy their own homes quite soon thereafter.
“Wealth Gap,” or otherwise, things seem to be getting tougher and tougher out there for more and more people.
