In contradiction to what many experts have been saying there was an article on a popular property site this week that suggested that those who had predicted a tenant boom were being proven wrong.
This article took the attitude that the predictions pf plentiful supply of people wanting to rent had already proven false. It said that what was happening instead was that people were staying at home with parents much longer than we had ever seen before. This is in an effort to avoid having to make purchase in difficult times. The article goes even further and states that also very common is the situation where people who were already renting return home as the cost becomes prohibitive.
I am certainly not going to argue that none of this is happening. Clearly there is an element in today’s society. Many of us have long ago accepted that we will have our children on our hands much longer than we had anticipated. However, I think these young or youngish people who are unattached without families, in the main, are the tip of the housing iceberg.
I think this call is far too premature. I am still thinking that a tenant boom is on the cards if not a housing crisis.
