Temporary Housing Sees Boom As Americans Go Where the Jobs Are

The declining housing market is definitely a large part of the troublesome economy, but one part of the housing market that is seeing a boom is the corporate housing sector.

Americans are beginning to face the facts and are relocating for jobs or traveling to cities where they know they will find more work. Because it is difficult to sell their homes and purchase a new home in the city they are moving to, corporate housing has become an option – even the key solution – on both ends of the spectrum.

“Homes are the burden around their necks that they don’t know what to do with and corporate housing is a solution,” said Kimberly Smith, CEO of Corporate Housing By Owner, in an interview with CNBC.

Corporate Housing By Owner indicated in a study that many furnished rental properties listed on its site are from homeowners who need to relocate and can’t sell their homes. They are opting to rent out their homes instead. On the flip side, those homeowners are renting corporate properties in the new city they have relocated to – thus giving a second boost to the corporate housing industry.

Additionally, single family private homes may also be a cheaper and more appealing option for relocating families, as urban rental rates continue to increase due to high demand and limited availability.

“If you are moving your family across the country, a single family home might be a better solution than being in a small rental apartment box,” says Smith.

For more on the corporate housing boom, watch the clip below.

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1 Comment

  1. city accomodation melbourne
    November 3, 2011

    Hey There Chbo,
    Thanks for that, Around the many years, short-term housing has turned into a necessity as traveling for corporation purposes has grown to be a good deal alot more frequent all through the planet. Staff members are usually requested to relocate, possibly for the limited time period or long term, and getting a pleasant location to stay is crucial. Authorities and military people also discover themselves on the move consistently, as journey is very often expected in their professions. It is unique to see how an marketplace that was nearly nonexistent right before the advent of the airplane has burgeoned into a multimillion greenback venture spanning international locations all about the environment. This post will just take a transient start looking back again at the background of momentary housing.
    Keep up the posts!

    Reply

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