DALLAS, TX / ACCESSWIRE / June 14, 2017 / The real estate market has shifts with the demands of consumers, moving towards more abundant options and conveniences and increased rental availability. Marcus Hiles has participated and invested in residential property development for decades and urges a close attention to detail regarding the reasons why wealthy couples, families and individuals are choosing to rent rather than purchase homes. Multiple factors are involved and the trend is likely to continue as the next generation of affluent Americans are drawn to the many advantages of pursuing options designed for luxury.
In a society that has come to favor time over money, people are now preferring to minimize unneeded responsibilities and remove extra duties from their lives. A Business Insider article asserts that "Many high net worth individuals have properties in various locations and would rather skip the cost and maintenance associated with owning" which is one of multiple reasons wealthy Americans are renting. A shift in attitude is being seen towards ownership as people manage their net worth in a different way. Seeing the investment in freedom to choose a home based on personal criteria being a very positive influence in current housing considerations.
Although the allure of ownership, and the equity that goes with it, is still common, the values have shifted over a number of years. U.S. Census Bureau data shows a 217 percent the number of renter households earning more than $150,000 a year increase between 2005 and 2015. Put another way "For some it's a lifestyle choice, as renting is more popular thanks to the high-end apartment market phenomenon that's been spreading all over the U.S. in the last couple of years."
The rising housing costs and volatility of the market are encouraging people to choose the safer option of renting, what they want, where they want without any of the risk involved. As well, cities are growing with new and different rental options becoming available. Marcus Hiles states that the conveniences available in new, executive developments, combined with the ease of mobility that renting allows are considerable influences on affluent Americans choosing to sign a lease. Young adults are leading this trend as they seek out alternatives to owning and delay first-time home buying, sometimes indefinitely as they prefer the new luxury rental accommodations that are rapidly becoming available.
Founder of Western Rim Property Services and Newport Classic Homes, Marcus Hiles has spent more than three decades creating properties that embody his vision of luxury living. As a renowned Texas real estate investor and developer he is dedicated to the concept of community building. His developments are designed with a focus on lifestyle amenities, greenspace and other services to provide a complete and exclusive living experience. CEO of his company, he encourages a supportive team environment with his employees, clients and partners. Dedicated to environmental and social causes, Hiles has donated over $2.5 million to school initiatives and he continues to support on-going tree planting and eco-friendly initiatives.
Marcus Hiles - Chairman & CEO of Western Rim Property Services: http://www.MarcusHiles-News.com
Marcus D Hiles Founder Of Texas based Western Rim Property Services: http://www.marcusdhiles.com
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SOURCE: Marcus Hiles