wibbitz

Renters in the United States , Are Losing Hope of Home Ownership.
CNN reports that as the U.S. real estate market has stayed hot, many renters are starting to doubt that they'll ever own a home of their own.
According to a recent survey by the
Federal Reserve Bank of New York.
an average of just 43.3% of renters
believe they'll own a home in the future.
In 2021, 51.6% of renters were hopeful
they'd own a home eventually.
In 2021, 51.6% of renters were hopeful
they'd own a home eventually.
Per CNN, home ownership prospects have reached their lowest point since the
NY Fed began tracking data in 2015.
Experts say as the price of homes in the United States has skyrocketed, homebuying confidence has been in free fall.
22% of those surveyed said they had planned on buying a home, but now see renting as a more responsible fiscal decision.
36% said they prefer to rent housing.
42% said they were willing to wait to
buy a home until prices come down.
One in three of the survey's participants
who earn less than $60,000 per year believe
owning a home won't ever happen for them.
Still, renting a house may be more
expensive than any other time in
United States history, and renters aren't optimistic about the future.
Taken together, these numbers suggest a spike in rents in the near future, followed by more moderate growth in subsequent years. , Statement from survey by the Federal Reserve Bank of New York, via CNN

housingrentersownershiphome ownersfederal reserve banknew yorkhomesdataunited statesrent