The recession has taken its toll on everyone and many people are finding that rather than living in their own home they are living in a rented apartment. This is due to a number of factors, including job loss, a decrease in pay, and drastically increased interest rates on adjustable rate mortgages.

Many families have faced foreclosure on their homes—not to mention bankruptcy brought about by financial crisis, and have found themselves in a position where they are forced to downsize and move into an apartment.

This trend is especially true in Northeastern states like Pennsylvania. For example, apartments for rent in Pittsburgh are in high demand because of the economic challenges families are facing. Furthermore, for many people purchasing their own home is no longer an option. Many people are also forced to rent an apartment because their home has been foreclosed on.

Families who move to an apartment from a home are faced with some specific challenges, one of which is having enough room to house all of their furniture and belongings; as such a reduction in size is making it practically impossible to fit everything. This puts them in a position to have to make a decision to sell their belongings or store them somewhere for a fee. Most people are finding that it makes more sense to sell (there is a strong market right now for secondhand furnishings) and not have to pay a monthly storage fee for an undetermined amount of time.

Of course, one thing that every family is looking for is to take advantage of cheaper rent, as it important to save as much as possible when downsizing. With the savings on property taxes, as well as the cost of home maintenance and repairs, there is a considerable amount to be saved when renting an apartment vs. owning a home.