Affordability Perceptions: Consumers Weigh in on Rent vs. Own

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Posted To: MND NewsWire

Housing inventory shortages, lack of new construction, and the not-unrelated issues of rising prices and falling measures of affordability have been major topics of discussion and analysis for several years. Fannie Mae included some special questions in a recent edition of its National Housing Survey, probing for information as to whether respondents consider their current home affordable, the trade-offs they weigh when choosing housing – whether buying or renting – and how they balance housing expenditures with other needs and wants. The company also wanted to know if perceptions about affordability might be reducing household mobility and exacerbating the housing shortage. According to Fannie Mae Chief Economist Mark Palim, one finding was that both homeowners and renters are more concerned…(read more)

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