12 Dec Research Shows Many U.S. Renters Still Dream of Homeownership
The majority of U.S. renters are struggling financially and plan to remain renters for the next three years, according to recent Freddie Macsurvey data. However, the recent financial crisis did not tarnish renters’ dreams of homeownership with 91 percent of them viewing homeownership as something of which to be proud.
“It’s no secret that for the last several years, consumers have felt more strapped financially, particularly renters,” says David Brickman, executive vice president of Freddie Mac Multifamily. “Many renters are not buying homes because of a perceived lack of ability to afford the down payment or mortgage and poor credit history. But there also is a segment of renters who simply do not want the responsibilities of owning a home.”
Results show that 61 percent of renters believe they will continue to rent in the next three years, despite 91 percent of them viewing homeownership as something of which to be proud. While 39 percent of all renters say they expect to purchase a home in the next three years, the remainder plan to continue to rent. Those most likely to buy a home in the next three years are from ages 25-44.
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