Renters Under 50 Want To Buy A Home

Dated: 05/17/2018

Views: 25

Renters Under 50 Want to Buy a Home!Renters Under 50 Want to Buy a Home!

Renters Under 50 Want to Buy a Home! | Keeping Current Matters

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! | Keeping Current Matters

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! | Keeping Current Matters

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.

mailto:http://kcmcrew@keepingcurrentmatters.com
Blog author image

Candy Wallendorf

Dear Friends, In my past careers as a music education teacher and middle school guidance counselor in Jeffco Public School, Real Estate has been the natural next step in my career trajectory. This....

Want to Advertise on this Site?

Latest Blog Posts

EXIT Realty Bonfils Blood Drive

EXIT Realty Corp. International has a long standing tradition of giving back to the community.  EXIT agents are no different and many of us have various causes or charities that we

Read More

8 OneHour Projects That Can Make Your Home Look New Again

With today's busy schedules, it can be tough to find the time to take on lengthy home improvement projects. But you don’t have to dedicate your entire summer vacation to home maintenance to keep

Read More

Denver Newest Move In Ready Home

Welcome to the City of Denver, the State of Colorado's beautiful capital city situated at the base of the Rocky Mountains. Located on the western edge of the Great Plains, Denver is the largest city

Read More

Union Station Condos Under 300k For Those Who Qualify

If you haven't heard yet, The Coloradan has finally released its affordable units, and you could snag a 2 bedroom in the heart of Union Station for $280,000, with restrictions.  This is a great

Read More