Trying to convert renters to homeowners? Your job may be getting tougher. A new survey from Freddie Mac finds more renters are optimistic about their financial situations, but they’re less likely to move even if their rents increase.
“It would appear from our new survey that renters today feel better about their finances, like where they are living, and view renting favorably,” says David Brickman, executive vice president of Freddie Mac Multifamily. “This is consistent with findings from earlier surveys that show a steadily growing number of renters have a positive view of renting.”
A declining number of renters say they are working toward homeownership, expect to buy a home, or plan to move within the next few years, the survey shows. Fifty-nine percent of the nearly 1,300 renters surveyed say they plan to rent their next home, an increase from 55 percent since Freddie Mac’s last renter survey in September 2016.