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: 28 About Jasmine: My clients appreciate that I am honest and trustworthy. I promise to always be straightforward with ...
Every year, the New York Federal Reserve publishes the resul
I want to thank you so much for keeping me so well-informed of the market I selected. My circumstances have changed and I must move to New Hampshire rather than buying locally. You may want to remove me me from your list, with my sincerest thanks. Had I stayed in Arizona, I would have definitively bought through you. You are professional, you addressed my personal needs and desires and were consistent. I truly appreciate that.
Good luck in the future.