Every year, theNew York Federal Reservepublishes the results of theirSurvey 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.
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.
Many had wondered if young Americans had lost their desire to own a home, but for those renting now, that dream is still alive.
Author:Jasmine Broderick Phone: 602-300-2774 Dated: May 16th 2018 Views: 21 About Jasmine: My clients appreciate that I am honest and trustworthy. I promise to always be straightforward with ...
Chris Grenko epitomizes integrity, dedication and creativity in every detail of your Real Estate transaction. Chris grew up Chicago and began his sales habit at the age of 11 selling the local newspaper. He moved to the Phoenix area in 1997 to enjoy the beautiful weather in the Valley of the Sun and everything it has to offer. He has worked closely with sellers, buyers and investors over the years. Chris is a family man with a beautiful wife and four children, and an avid athlete who enjoys golf and hockey. He uses his experience and foresight to proactively address issues before they become problems. Chris and his team work diligently, from the first phone call to the closing date.