Rise Of The Renter Class: In A Spotify World, Need We Own Anything?

My family and I are in the process of moving. Always stressful, moving is made more so by the realization that we own far too much, and need to dump a lot of what we once thought essential. There’s an overflowing dumpster in our driveway that can attest to just how little ownership was actually necessary.

I’ve discovered a similar phenomenon whenever I move to a new digital device. A new laptop or mobile device gives me the chance to delete files that encumbered my old device. It’s liberating to simplify.

The Rise Of The Renter

Apparently, I’m not alone. As The Wall Street Journal notes, affluent Western societies are increasingly comfortable with the idea of renting prosperity instead of buying it:

In the American mind, renting has long symbolized striving—striving, that is, well short of achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they’re OK with renting it. Homeownership is on the decline, and home rentership is on the rise.

But the trend isn’t limited to the housing market. Across the board—for goods ranging from cars to books to clothes—Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter.