Renters Losing Interest in Homeownership

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Posted To: MND NewsWire

Along with a declining rate of homeownership, analysts have noted over the last few years that fewer Americans appear to be heavily invested in the dream of owning a home. New research from Freddie Mac gives more credence to what a company official calls a historic shift in the preferences of older consumers. Freddie Mac’s spring edition of its Profile of Today’s Renter finds that affordability is driving the rent-versus-buy decision process. Sixty-seven percent of renters who responded to the Profile survey viewed renting as more affordable than owning, including some of those in age groups that have long had the highest homeownership rates. Among Baby Boomers, who are now aged 53 to 71, 73 percent of those who are non-homeowners said renting was more affordable. Sixty seven percent of those…(read more)

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