“The housing bust taught us to be wary,” says the Washington Post in a recent article about falling homeownership rates – rates that are expected to continue to fall until the amount of renters exceeds the amount of homeowners in the United States.
“Viewed another way,” the article continues, “a big surge in renters is coming.” As a premier apartment company with communities throughout Greater New Orleans and the Gulf South, we’re excited to accommodate the expected uptick in renters. We believe renting is a worthwhile long-term option for a multitude of reasons (check out a recent post here).
The National Apartment Association notes that by the year 2030, a majority of the estimated 22 million new U.S. households will be renters, not buyers. These combined articles suggest that perhaps the future is dim for homeownership but, as the old adage goes, where one door closes, another opens.
We’re constantly improving at 1st Lake Properties, from updating apartment communities to adding seasonal landscaping and so much more. We’ve recently built new communities, too, like our Bella Ridge property in Elmwood with luxury units that have all the comforts (and more) of any standalone home. An on-site dog park, gorgeous pool, and state-of-the-art fitness facility are all worthwhile additions we’re so pleased to be able to deliver to our residents.
What’s more, our improvements aren’t limited to actual buildings – we’ve added helpful assets on our website like our apartment moving checklist designed aid residents during transitions from one 1st Lake Community to the next.