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September 11, 2014

Why People Rent: Survey Says...

Did You Know?

Did you know in a recent survey more than 55% of people gave this reason for renting instead of buying: They hadn't saved enough or had too much debt.

And at the bottom of the list? Fewer than 8% said they were concerned housing prices might fall. (See chart below.)

Buying a Home: A Good Investment?

About 60 percent of respondents think buying property in their zip code is a good investment, while only 12 percent think it’s a bad one. Renters view buying to be a good investment just as much, or more so, than homeowners.

Why People Rent
Click to enlarge

Getting a Mortgage?

When asked how easy or difficult they thought it would be to get a mortgage, if they wanted to buy a home today, about two-thirds of the renters said they thought it would be somewhat or very difficult for them to get a mortgage. Only about 5 percent thought it would be very easy.

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