More and more Americans over 55 are choosing to rent rather than own their homes. Over the last decade, renters in this age group have risen faster than any other, with the number of renters aged 65 and older surging 30% in the same period, according to a recent Point2Homes study.
What's behind the move from owning to renting as people get older? A lot of different factors are at play from rising costs to the desire to cut down on time spent maintaining a property. Despite the common assumption that ownership is always the best choice, there are situations where renting makes the most financial sense.
