Marcus Hiles – Western Rim’s Founder – Discusses the Growing Interest in Renting Nationwide

FORT WORTH, Texas–(BUSINESS WIRE)–#Charity–According to Marcus
, 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.

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
, 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
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.

Tiffany Jones, 202-759-4575