80 Of Renters Believe Home Ownership Is A Part Of Their American Dream

80 Of Renters Believe Home Ownership Is A Part Of Their American Dream

According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.

The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.

So, what is holding renters back?

80% of Renters Believe Homeownership is a Part of Their American Dream | Keeping Current Matters

What would make renters take the plunge?

80% of Renters Believe Homeownership is a Part of Their American Dream | Keeping Current Matters

NAR’s Chief Economist, Lawrence Yun believes that,

“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”

Yun goes on to warn that,

“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”

Bottom Line

If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.


Steve Lewey Headshot
Author:
Phone: 336-317-4100
Dated: February 24th 2018
Views: 37
About Steve: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

NOT Owning Your Home Can Cost You A Lot Of Money - NOT Owning Your Home Can Cost You
4 Reasons Spring Is A Great Time To Buy A Home - Here are four great reasons to
Competition Is Coming Are You Thinking Of Selling Your Home - The number of building permits
4 Reasons To Sell This Spring - Some Highlights: Buyer demand

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

eXp Realty North Carolina
3150 N Elm Street, Suite 201-B
Greensboro, NC
336-804-8595