Few Renters Feel Certain They Will Ever Buy a Home
July 1, 2019
Affordability in the housing market is historically low, and many Americans now feel that homeownership will remain beyond their financial reach. A new survey from mortgage company Freddie Mac finds that only 24 percent of renters say it is “extremely likely” that they will eventually own a home. The survey also found that 82 percent of renters said that renting was more affordable than buying. This is 15 percent higher than a similar survey conducted in February 2018. That is not to say that renting is necessarily affordable either. The survey asked renters who had moved in the last two years for the reason, and 44 percent said the move was necessary because they could not afford their rent.