Renters Under 50 Want to Buy a Home!

    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.

    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.

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    Jordan Forney

    Jordan is a recent graduate of Lenoir-Rhyne University where he received his BA in Multimedia Communications while also playing football all four years that he was enrolled. Jordan has experience in writing and photography from his time working for the school newspaper, Lenoir-Rhyne News (LRN). He also has marketing experience with WLRZ 99.3 where Jordan produced and aired PSAs and was in charge of marketing with the social media accounts. He was a part of the marketing team for the Lenoir Oiler's baseball team as well where he had a lot of the same responsibilities. Now Jordan works at Rinehart Realty where he is increasing his experience by posting blogs, maintaining social media accounts, and working directly under the Director of Marketing.

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