In the United States, after signing a contract with a rental office, the tenant's rights are fully protected and he or she will not be suddenly evicted by the landlord. More importantly, the United States has truly achieved "equal rights to rent and sell".
Americans do not need to worry about the household registration, children's schooling and other issues. People can move in and out of big cities as they please without the American hukou system.
Also, owning local property is not a requirement to send children to local schools, and parents do not have to worry about buying expensive school district housing.
High property prices are a common feature of cosmopolitan cities. In New York and Washington, D.C., for example, the monthly rent for an apartment usually exceeds $1,000 and rises 5% to 10% per year. For young people who have just graduated, this is a significant expense.
Generally speaking, young people have to pay 1/3 to half of their income to pay the rent. Together with daily expenses, you can't save much money every month, so don't even think about buying a house.
It is worth mentioning that after the financial crisis in 2008, the U.S. housing market has undergone a restructuring, and "millennials" prefer to rent.
Most of the single-family properties for sale today are located in the suburbs. Unlike previous generations who preferred to live in the suburbs, the new generation of young people prefer to rent near downtown.
This allows them to participate in social life more easily and save a lot of money on commuting. At the same time, they don't have to worry about property taxes and cumbersome home maintenance.
What's more, the U.S. housing system and "equal rights to rent and sell" allow people not to take buying a home as a big deal.
Statistics show that the rental rate of people aged 18 to 34 in the United States is as high as 71.6%. Meanwhile, the rental market in big cities has been fully developed, and the overall rental rate in New York has reached 56.9%.
In the U.S., primary and secondary education is funded by local government taxes, and property taxes are a major source of public funding for local governments.
Although property taxes are borne by the property owner, when the tenant pays rent to the landlord, it means that the tenant has paid for the local public services.
The property taxes paid by the landlord are actually borne by him, and since the tenant has paid for the public services, he is certainly entitled to the relevant public services.
For young Americans, it is a fashion to rent a house.
However, there are still some young people who insist on buying a house.
Roughly divided into three categories:First, foreign immigrants, they can buy property to gain a sense of stability and win the respect of society; second, the middle class with higher and stable income; third, some Americans who hold the traditional concept of owning property as their greatest wealth.
According to the latest survey report from the Bureau of Labor Statistics, 52% of first-time homebuyers in the United States are 31 years old, while the average age of Americans is 21 and married at 26.
That means that more than half of Americans choose to work for 10 years and buy a home after five years of marriage.
Most young Americans do not expect their parents to buy a home. The first thing they think of is to go to the bank to get a loan. Because home loans are so well developed in the United States, according to the National Home Warranty Association, 70% of all houses in the United States are purchased with a loan, with about 40% of them having zero down payment.
