Rent or Own?

I was 40 something before I bought my first house. I liked the convenience of renting and then there were also the years of living with parents to help them out. But it's not just homes, but what's inside your home that people are renting:


Rent-To-Own Business Heats Up
Among those businesses that seem to be benefitting from the recession is the rent-to-own industry.

Aaron's, one of the industry's major players, this week reported a first-quarter jump in profits of 42%, when compared to last year's first quarter. Rent-A-Center, another rent-to-own giant, said its 2009 first-quarter earnings were up 25%.

Aaron's stated that its revenue growth is being driven by recession-strapped consumers who need to acquire home furnishings, electronics, appliances and related products without a credit check.

"We believe the current conditions have helped accelerate the number of customers coming into our stores," observed Robin Loudermilk, the company's president and CEO. "We currently see no indication that this trend will diminish in the foreseeable future."

Source: Furniture Today (04/28/09)

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