Renting in general is a trend , like people not wanting to get married . The reasons for both are similar , too many legalities . A lot of people dont want that anymore . Other reasons are the fact that a house is a boat anchor , it keeps you trapped in a job , and an area , its also a money pit at times . Some people are still scared to buy , because of the first crash , they dont want to get screwed ………..so they prefer to rent a house instead . It used to be that a house was a good investment , now that notion is more spinning the wheel of chance . Buying land is probably a better investment . My mother does very well for herself doing that . She will buy land , then parcel it up so that its affordable to most people , and is her own banker .