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:Andrea Semanko 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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About Semanko Realty Group, LLC & Washington Quality Homes
Semanko Realty Group is an independent “Boutique” real estate company in the Puget Sound Region & Greater Seattle/Tacoma Communities. Our agents serve Pierce, King, Snohomish, Island, Skagit & Whatcom Counties.
As lifelong residents of the Pacific Northwest, our agents share the same values as the people who live in the communities throughout the Puget Sound. Whether you plan to live & work locally or need to be an extreme commuter, they'll help you find a place to create that lifestyle. They work well with Home Buyers & Sellers anywhere from Olympia to Bellingham because they've embraced the new technology of the internet. They've successfully placed buyer's & seller's together with the unique marketing methods of Semanko Realty Group as an ”Independent Boutique Presence” throughout the Greater Seattle area. />
Real Estate is simultaneously fun and stressful for most people. Our experience at Semanko Realty Group helps minimize the stress. It keeps our clients and all parties moving in the right direction to close their transactions successfully and on time. This means going the extra mile to navigate the issues, playing nice and staying focused to keep all parties accountable. Our goal is to do more than expected and receive referrals from our clients; it's the best compliment we can receive!