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.
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.
Many had wondered if young Americans had lost their desire to own a home, but for those renting now, that dream is still alive.
For more information on this and many other steps to home ownership, contact The Atlanta Home Connection - a mother/son real estate team who is here to help navigate all the steps necessary to make home ownership not just a dream but a reality!
Jill Hoover/Jonathan Hoover 678-726-5470
Want to see all homes available in metro Atlanta?, go to: www.TheAHC.net
Proudly affiliated with Solid Source Realty GA
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