Rental Market in Brunswick County at 15 Year High

According to the article in Wilmington Biz, the rental market in Leland and Brunswick county is at a 15 year high. Waiting lists for apartments and affordable housing are 5-10 people long. What does this mean in terms of the real estate market? Well, far starters, the market is good. The renters consist of people moving to the area and not purchasing until they look around, people in the process of building homes, and sellers in between homes. Rental rates are so hight that in turn, consumers are finding that if they can be pre-approved for a loan, their monthly payment could be a lot lower than rental rates. With loan rates still being very low, why would you consider renting over purchasing?