{"id":3280,"date":"2020-08-10T13:36:24","date_gmt":"2020-08-10T13:36:24","guid":{"rendered":"http:\/\/www.swetconstructiongroup.com\/blog\/?p=3280"},"modified":"2020-08-10T13:36:24","modified_gmt":"2020-08-10T13:36:24","slug":"multifamily-construction-economic-impact-leads-to-more-renters","status":"publish","type":"post","link":"https:\/\/swetconstructiongroup.com\/blog\/multifamily-construction-economic-impact-leads-to-more-renters\/","title":{"rendered":"MultiFamily Construction; Economic Impact Leads To More Renters"},"content":{"rendered":"

A new study shows more people will be renting for a longer period of time due to the economic downturn.\u00a0<\/span>\u201cThe reason why most renters don\u2019t plan on becoming homeowners in the near future is financial worry,\u201d Florentina Sarac of Rent Caf\u00e9 tells GlobeSt.com<\/a>. \u201cWith home prices already high, they assume that the current pandemic won\u2019t have a positive effect on the housing market \u2013 on the contrary. Despite a desire to own a home, renters are shying away from doing so as they not only can\u2019t find a home priced within their budget, but they also have to take into consideration the unpredictability of current events.\u201d<\/p>\n

\"\"According to a new study from Yardi\u2019s Rent Cafe, due to the pandemic\u2019s economic impact, over 40% of renters feel they will be putting off purchasing a home for at least 5 years, if not longer. With 23% of those respondents stated homeownership would never be within reach.\u00a0<\/span><\/p>\n

\u201cIt all depends on how long this pandemic is going to last, but it would be safe to say that the housing market is bound to be affected by this, one way or another,\u201d says Sarac. \u201cGiven the uncertain times we\u2019re going through, most renters might be extra cautious when it comes to taking big decisions such as buying a house.\u201d<\/p>\n

\u201cWhile more and more Boomers are shifting towards renting given the flexibility and affordability that comes with it, younger generations like millennials are finally starting to give homeownership a chance as they begin to settle down and start families,\u201d says Sarac. \u201cGen Z-ers, on the other hand, are still too young to have the necessary financial stability to become homeowners although they are enthusiastic about it. The influence, however, might come from their gen-X parents, who have been through several economic crisis resulting in many of them wanting and failing to become homeowners in 2008 and now we\u2019re witnessing a replay of that due to coronavirus. As a result, 25% of them are no longer hopeful about becoming homeowners.”<\/p>\n

Careful planning and research, including the facilities, activities, new complex equipment, space design, and quality, characteristics of the patients as well as the workers and safety are taken into account while the team at SWET Construction Group <\/a>uses lean principles to achieve optimal results. We are committed to the construction of multifamily housing, while increasing safety and reducing waste.<\/p>\n","protected":false},"excerpt":{"rendered":"

Serving Southeastern U.S. Orlando, Miami, Tampa, Jacksonville, Atlanta, Ft Myers, Sarasota, Lady Lake, Leesburg, Clermont, Lake Nona, Kissimmee, Ocala, Tallahassee, Marietta, New Smyrna, Deland, Brevard, Lake, Seminole and Orange Counties <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[98],"tags":[69,67,86,88,30,78,25,103,26,29,75,71],"_links":{"self":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3280"}],"collection":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/comments?post=3280"}],"version-history":[{"count":6,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3280\/revisions"}],"predecessor-version":[{"id":3293,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3280\/revisions\/3293"}],"wp:attachment":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/media?parent=3280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/categories?post=3280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/tags?post=3280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}