More evidence that people are opting to rent instead of own
July 29th, 2011
The percentage of people renting a place to live went up far more in Kentucky than those buying a home between 2000 and 2010, according to U.S. Census data.
The downturn in jobs during the recession and tighter credit were key reasons, several real estate agents said.
Statewide, the percentage of people renting their residence was 16 percent higher than in 2000, while the percentage of owner-occupied housing was up just 5 percent.
There also was a 29.3 percent increase in the number of vacant residential units across the state.
That number includes homes in foreclosure — another reflection of the difficult economic times.
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