Renters Under 50 Want to Buy a Home!

Renters Under 50 Want to Buy a Home! | MyKCM

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.

Contact the Gold Country Modern Team, your Amador County real estate connection, for assistance buying or selling a home in the Gold Country.

Post a Comment

Current Homes for Sale
Upcountry
City # Price Range
Pine Grove 18 $280k - $1.2m
Pioneer 38 $148k - $835k
Volcano 13 $400k - $1.4m
Down Country
City # Price Range
Fiddletown 6 $225k - $1.6m
Ione 31 $200k - $2.7m
Jackson 23 $345k - $4.0m
Plymouth 8 $329k - $2.5m
River Pines 2 $279k - $365k
Sutter Creek 24 $125k - $2.1m
New Listing

Email Alerts

Subscribe Today!
Have

Questions?

Contact Us Now!