According to a recent survey, nearly 38% of renters in the United States do not believe they will ever be able to call themselves homeowners.
Redfin reported on April 12th. findings According to a survey conducted by Qualtrics in February among approximately 3,000 U.S. residents.
According to Breitbart News, this information comes from researchers who announced in January that a record half of renters in the U.S. would have used a large portion of their income to pay rent and utilities in 2022. This is in response to this.
“While housing costs remain a burden, people are also struggling to put food on the table in the Biden economy,” the paper said.
A recent Redfin article continued:
Related questions are:Do you think you can own your own home in the future? ” and “Which of the following is a reason why you are unlikely to buy a home in the near future? The 27% comparison comes from a Redfin survey conducted in May and June 2023.
The main reason renters are less likely to become homeowners is lack of affordability. Almost half (44%) of renters who don’t plan to buy a home in the near future say it’s because existing homes are too expensive. The next most common barriers are the ability to save for a down payment (35%), the ability to afford mortgage payments (33%), and high mortgage rates (32%). Approximately 1 in 8 people (14%) have no interest in owning a home.
Inflation under President Joe Biden’s leadership has increased the price of rent, electricity and even trash pickup by nearly 6%, Breitbart News reported on April 10.
The outlet also provides “Water and sewerage maintenance services: 5.1% increase 0.5% increase since March 2023 / since February 2024”, and “Household goods repairs: 18.0% increase No data reported after March 2023/February 2024. ”
during a conversation at CNN this morning In August, co-host Phil Mattingly and CNN International host Julia Chatterley discussed rising mortgage rates.
“If the big American dream was to own a home and leave that money to your kids someday, that’s getting further and further away,” Chatterley said at one point. We will lower interest rates, these conditions will ease, and people will start selling their homes, but it will take time. ”
CNN: Rising mortgage costs fuel worst home price crisis in 40 years as rent inflation continues
