Prediction 6: Renting will lose its stigma. Demad for large rental apartments and houses will climb as more young families embrace the renter lifestyle. We’re already seeing signs that young people are redefining the American Dream; nearly one in five millennials who responded to a 2023 housing survey believe they’ll never own a home. For some, renting is not a choice: Nearly half of those survey respondents said homes for sale are too expensive and a similar share said they can’t afford to save for a down payment. But others just prefer renting: 12% said they aren’t interested in homeownership and 7% said they don’t want to put in the effort to maintain their own home.
