Renters see Selves as Homeowners-in-Waiting
While the dream of homeownership has been sidelined for many, it appears to have not been derailed. Freddie Mac says the responses of renters to a recent survey it conducted shows that many are struggling financially but they still hope to buy a home. Eventually.
Freddie Mac surveyed 2,044 adults in August. The total included 672 and the report issued by the company this week relies primarily on the perceptions of that subgroup about renting in the post financial crisis marketplace. This is the first in what the company says will be a quarterly series of surveys “to learn about renters’ preferences towards the housing choices available to them, the constraints preventing them from obtaining housing that they think would better suit their needs, and the drivers for their decisions.” Except for the financial situation information directly below all data refers only to responses from the survey subset of renters.
Many renters say they tend to live payday to payday; 45 percent say they have just enough money to get by and 17 percent say they run out of money for basics, like food and housing before the next payday. However, only 38 percent of homeowners indicated a similar financial hardship.