SALT LAKE CITY (ABC4) — An analysis of the U.S. Census Data by Point2Homes, an online real estate marketplace, found that more seniors over the age of 65 are renting than ever before, and that is true in Utah as well.
The analysis found that the number of U.S. seniors renting increased by over 30% over the past decade.
"Now, I would never consider buying a house," Laura Smith, a former homeowner and current Salt Lake City resident, told ABC4.com.
Smith is part of the growing group of seniors choosing to rent out of necessity.
In Utah, real estate expert Thomas Wright said that seniors are reluctantly giving up homeownership and turning to rentals.
“Because of escalating property taxes, the insatiable appetite the government has to continue to tax us at a disproportionate rate, and the