There are many factors that are driving the new renter class, but it can be broken down into forced pragmatism vs. the American dream.  Here are 5 factors that are driving rentals versus ownership: 1.  Real cost of home ownership: With no home price appreciation prospective buyers analyze all cost of ownership; property taxes, HOA dues, maintenance / repair costs. Notable: property taxes will be under pressure as municipalities look to raise rates to balance stressed budgets. Transaction costs; typically overlooked and take 10% off any arms length transaction - a price of mobility or cashing out. 2.  Demographic effects: Baby boomer households have begun the shift to empty nesters, downsizing, smaller vacation home buyers. Gen Y is growing pressing the need for entry level housing, this is an 80M- group whose job growth was 3x’s the national average in 2010 and the average house- hold size is declining...