Few non-homeowners expect to buy home in next 5 years: Survey
- A recent survey found that nearly half of renters in the U.S. do not expect to buy a home in the next five years, citing affordability issues.
- This situation arises from high starter home prices, with Zillow reporting costs at $1 million in 233 cities, alongside elevated interest rates and expensive mortgages.
- Currently, 62% of Americans own their homes, a figure that remains below pre-2008 housing crash levels, while 34% rent—many renters cite the inability to save the necessary funds for an initial home purchase as a primary reason.
- Gallup found that 72% say it’s a bad time to buy a house and 57% expect housing costs to rise over the next year, reflecting widespread market pessimism.
- These factors suggest homeownership rates are unlikely to increase significantly soon, highlighting a need for policies to make housing investment more attainable.
13 Articles
13 Articles
Few non-homeowners expect to buy home in next 5 years: Survey
Few non-homeowners expect to buy a home within the next five years, according to a poll released Wednesday. In the new Gallup poll, 25 percent of non-homeowners said they believe they “will buy a home” within five years. Five percent said the same about purchasing a home within a year, 23 percent said the same…
Many Say They Won’t Be Able to Buy a Home
A new Gallup Poll finds only 30% of adults who don’t own a home believe they will purchase one in the next five years, while 23% say they will do so in the next 10 years and 45% don’t anticipate it happening in the foreseeable future. Axios: Where starter homes cost at least $1 million.
Over Half of American Renters Say They May Never Afford a Home, New Survey Finds - Davis Vanguard
A new national survey reveals that over half of American renters believe they may never be able to afford a home, with significant differences in perception based on gender, age, and geography, and policymakers are being urged to address rising rents, tax burdens, and housing shortages with greater urgency.
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