Many renters need to get out of their apartment lease because they're buying a home.
But according to a recent survey by Apartments.com, the opposite situation -- homeowners deciding to become renters -- is gaining more traction, particularly in light of economic difficulties.
In fact, 35.1% of renters surveyed reported having previously owned a home, up from 33.6% in 2012. More of these previous homeowners in the new survey admitted to not being able to keep up with ownership expenses. For example, a much greater number of respondents (11.2%, compared to 5.9% in 2012) indicted they lost their home due to foreclosure or divorce.
Did you recently sell a house or apartment to switch to renting? If you became a renter for economic reasons, do you find it's more affordable than owning a home?
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