By Suzanne De Vita | RISMedia
Renters are staunchly in favor of homeownership, and, though they have concerns about their ability to afford a home, more now believe it is easier to qualify for a mortgage.
According to the latest SCE Housing Survey, part of the Survey of Consumer Expectations (SCE) by the Federal Reserve Bank of New York, 72.3 percent of renters “prefer” or “strongly prefer” to own a home rather than rent one, and 55.9 percent view homeownership as “a good investment”—findings that dismiss a commonly held notion that they have become averse to homeownership as a result of societal shifts.
The likelihood of buying a home in the foreseeable future, however, both for homeowners and renters, is at a standstill: 63.6 percent, unchanged from 2016.
