Whether through The Great Recession, student loan debt, urbanization, or a desire to be more mobile, homeownership is declining in America. One projection suggests that the majority of new households will be renters, not owners. Only 41% of new households will buy their own home. Regardless of the cause, the effect on America’s economy may be large. Much of the consumer economy is based on household goods: furnishings, DIY materials, appliances – things purchased more by owners than by renters. Big box stores may have to shift to corporate clients more than retail customers. Projections are tricky, though, because a long recovery can improve optimism and another recession could convince many to never buy again.
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