Cecelia Bonifay, chair of Akerman’s Land Use and Development Practice, and Meg George, managing partner of Akerman’s Chicago office, co-authored a GlobeSt article titled, “Thinking Small in Unaffordable America.” In the piece, Bonifay and George discuss how homeowners and renters are adapting to an increasingly high-priced U.S. housing market.
“America has become a nation of renters, rather than home owners,” Bonifay and George write. “Even though more than 70 percent of renters would like owning their own home, the prospect is becoming more and more unlikely for many. Over the last ten years, home-ownership has remained flat, while the number of renters has jumped dramatically—more than half of those who live in America’s largest 100 cities, for example, are renters.”