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Rent or Own?

Wednesday, May 16, 2018   /   by Sal Giuliano

Rent or Own?


Renters Under 50 Want to Buy a Home!



Renters Under 50 Want to Buy a Home! | MyKCM


Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing.


One of the many questions asked in the housing section of the survey was:


Assuming you had the financial resources to do so, would you like to OWN instead of RENT your primary residence?


Over three-quarters of respondents under the age of 50 said that they would prefer to own their home, rather than rent. While only 52.6% of those over 50 would prefer to own. The full breakdown can be found in the chart below.


Renters Under 50 Want to Buy a Home! | MyKCM


When renters were asked what the average probability of owning a primary residence at some point in their future was, 66.4% of those under 50 believed that they would eventually own their home, while only 23% of those over 50 did.


Renters Under 50 Want to Buy a Home! | MyKCM


Bottom Line


Many had wondered if young Americans had lost their desire to own a home, but for those renting now, that dream is still alive.

Elevate Real Estate Brokers
Sal Giuliano
3923 S San Mateo Drive
North Port, FL 34288
941-626-3069
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Kim Hibbs
Account Executive
Kim.Hibbs@hwahomewarranty.com
Cell: 512.987.4884
Customer Service: 888.492.7359
https://www.hwahomewarranty.com/


Betty Kedziora
Loan Officer
Office: 941.538.6123 <941.538.6123>
Mobile: 630.625.2435 <630.625.2435>
Fax: 941.256.2558
Betty.Kedziora@LHFS.com
NMLS #: 408864

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