Redefining the American dream
Wednesday, October 31, 2012 2:30 PM
Forty percent of American households rent their homes, and one-fourth of these renters have no intention of becoming homeowners, according to ApartmentList.com, a San Francisco-based apartment-finding search engine.
"The fact that a quarter of renters plan to never own a home indicates to us that the definition of the American Dream is changing, said John Kobs, CEO and co-founder of Apartment List.
Rental rates nationwide are also on the rise, according to the search engine's first "Rentonomics" report, which uses both pricing and survey data to track the U.S. rental economy.
Rents in Iowa have increased 18.9 percent over the last two years, according to the report. Click here for more.