Interesting renter data from MyNewPlace.com:

Faced with uncertain economic times, renters around the nation are saving money on their monthly housing costs by opting to split a 3-bedroom apartment rather than living alone in more expensive 1-bedroom apartments. MyNewPlace, one of the largest online apartment listing sites, recently conducted a survey of internal search data, which showed that the share of searches for 3-bedroom apartments made significant gains at the expense of 1-bedroom apartments since the beginning of 2008.Based on a sample of nearly 10 million searches for 1-, 2-, and 3-bedroom apartments that took place on MyNewPlace.com between January 2008 and June 2009, the percentage of searches for 3-bedroom apartments consistently increased each quarter…(Read More)

Post by Greg Starr.

So I just discovered that I’m not a slacker because I’m almost 30 and still renting. According to Jack Hough for SmartMoney in Why Rent? To Get Richer, I’m saving money - money that I could be putting in stocks actually, which he says will provide better return on investment over the long haul than a home. Well, good to know! Because I’ve been putting off buying a home for a few reasons.

First off, I’m inexperienced with purchasing real estate and it’s a little intimidating for a newbie. Second, I’m newly engaged and we just began thinking about purchasing a home – for “us.” Third, I’ve never had the nerve to ante up the large up-front down payment, of which I’m told by lenders lately, is not always necessary (whether you have the funds or not).

Yes, it seems odd to betray the American Dream of owning a home. Yet, I’m relieved that I’m not financially responsible for the myriad malfunctions, such as a broken water heater, roof leak or dishwasher meltdown. These are projects that I have no time to manage, let alone the desire to open my pocket book to solve.

Maybe the article is right and I should think about investing my money in the stock market. Perhaps other informed renters are thinking about ROI also and are beating the current housing slump to boot.  Now, that’s being a savvy renter instead of a homebuying procrastinator.

Post by Stephanie Santoro.