According to Marcus Hiles, property expert and investor, offering affordable luxury to working class Texans is an imperative to keep up with demand in today’s fast paced economy. Despite ever-fluctuating trends in the U.S. housing market, one constant remains: more and more people are renting every year. Hiles discusses the changes in attitudes and demographics that have led to the continuing increase in rentership throughout the U.S.

Marcus Hiles sees large-scale, generational shifts as important reasons for moving away from ownership more towards renting, including the skyrocketing cost of a college education and its subsequent impact on personal debt; most millennials allocate 10 percent of their income to paying off student loans. Other age groups are also driving up numbers: generation X-ers remain renters longer, pushing up rates for 30–49 year olds. Another cause lies in the transformation of traditional lifestyles. Being single and increasingly mobile means that the younger generation is farther from starting a family, and less inclined to pursue home ownership.

Real estate expert, Marcus Hiles, says that renting is a practical option for those not financially ready to purchase a home. “In Houston, just 41 percent of the population rented in 1970, but despite changes in wealth and employment, that number hit 54 percent by 2013,” notes Hiles. “The idea that owning your home is the ultimate American Dream is being turned inside out.”

Chairman and CEO of Western Rim Properties, Marcus Hiles has changed the Texas landscape by building contemporary, high-quality communities across the state. With ongoing efforts through his company, Hiles has successfully beautified the suburban areas he develops by contributing to the shade tree canopy, having planting a total of 30,000 trees during the last 10 years.

About Western Rim Property Services:

Western Rim Property Services, Inc. develops, owns, and manages apartment homes in Dallas/Fort Worth, Austin, New Braunfels, San Antonio, and Houston, Texas. Known to offer a contemporary, high quality and luxurious lifestyle to its residents, the firm’s mission is simple: build the highest quality homes in the very best locations, maximizing views with signature amenities, in superior school districts. This assures a rapid lease-up and excellent customer acceptance.