If I asked you to tell me about your most interesting profit opportunities, the words “renters insurance” probably would not spring to your lips … today. But tomorrow your answer may be different.
What Has Changed?
It turns out that the renters market is growing fast. The demographics of yesteryear are evolving, and thanks to our sputtering economy, many of today's renters now include middle income families. In fact, the State of the Nation's Housing 2013 report from Harvard University confirms that home ownership is in decline and reveals that “More members of groups with traditionally high homeownership rates are becoming renters, including married couples with children, high-income households, and white households.” For the first time ever, average monthly rent exceeds $1,000.
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