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In 2030 you will own nothing and be happy. Klaus Schwab

Many American suburbs, once an emblem of the dream of homeownership, are increasingly a place where people send a check to the landlord.

Renters now make up the majority of residents in more than 100 suburbs around the U.S., according to a new analysis of Census Bureau data from Rent Cafe. Another 57 suburbs are on their way to becoming predominately renter territory over the next five years, the apartment search website also found.

The trend is visible across the country. Beverly Hills, the ritzy area outside of Los Angeles, California, that's home to many Hollywood celebrities, flipped from majority owners to mostly renters over the past decade. Suburbs around Miami, Florida, and Washington, D.C., have followed a similar course.

>In 2030 you will own nothing and be happy. Klaus Schwab Many American suburbs, once an emblem of the dream of homeownership, are increasingly a place where people send a check to the landlord. Renters now make up the majority of residents in more than 100 suburbs around the U.S., according to a new analysis of Census Bureau data from Rent Cafe. Another 57 suburbs are on their way to becoming predominately renter territory over the next five years, the apartment search website also found. The trend is visible across the country. Beverly Hills, the ritzy area outside of Los Angeles, California, that's home to many Hollywood celebrities, flipped from majority owners to mostly renters over the past decade. Suburbs around Miami, Florida, and Washington, D.C., have followed a similar course.

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At least one builder has in the sales contract that you can't rent it out for 3 years after purchase. That's about the right amount of time for a Chinese student to go to university and when done, China owner can rent it out.