Nearly 95 Percent of Young Renters Want to Buy, But Many Say They Can't Afford It #homeownership #realestate

Source:  Wall St. Journal

A recent survey by the National Association of REALTORS finds that nearly 95 percent of renters 34 years old or younger want to own a home in the future and overall, 83 percent of renters said they have a desire to own.  More than half of renters said they haven't yet bought a home because they couldn't afford one, while just 19 percent said they prefer the flexibility of renting.  Notably, only half of all households polled - renters and homeowners - said they believe the economy is currently improving, and 44 percent said they believe the country is in a recession, so there is a lack of optimism about the economic conditions that will allow them to pursue homeownership.

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