|
Monday, December 13 2010 - By Becky Harris
Thirty-three percent of people surveyed said they are more likely to rent their next home rather than buy it.
Home ownership rates among young adults have declined 11 percent since the housing crisis began while those over 50 continue to see the value in owning their own property, according to a recent Fannie Mae survey.
Moving services may be in order for some homeowners, as 33 percent of people surveyed said they are more likely to rent their next home rather than buy it, up 3 percent from January. While 89 percent of homeowners and 49 percent of renters believe it would be beneficial to own a home in the current economy, the ownership rates of married couples - who traditionally have the highest rates of ownership - have also shrank, at 50 percent of households in 2009 compared with 56 percent in 1990. Fannie Mae reported that the percentage of families with children is declining which may be affecting buying rates, as 78 percent of survey respondents said children increase the need for home ownership. The over-50 demographic continues to believe that owning a home is more beneficial than renting, as people ages 65 to 75 are three-and-a-half times more likely to own their own home than those under 25. More News |
Follow Us
|
| Get an Estimate | I | View My Estimate | I | Change My Estimate | I | Forgot Reference Number? |
3801 Old Greenwood Road | Fort Smith, Arkansas 72903
Toll Free: 800-940-9155
Toll Free: 800-940-9155