Renters Under 50 Want To Buy A Home

Renters Under 50 Want To Buy A Home


Renters Under 50 Want to Buy a Home! | MyKCM

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! | MyKCM

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! | MyKCM

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.


Andrea Semanko Headshot
Author:
Phone: 360-840-9309
Dated: May 16th 2018
Views: 28
About Andrea: As a northwest native, I have a great understanding of Skagit, Island and Snohomish Counties as to t...

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Location & Address

Semanko Realty Group, LLC & Washington Quality Homes
3409 Shelly Hill Rd
Mount Vernon, Bellingham, Puyallup, WA
360-339-4996
360-424-1237

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