Chicago Relocation
 

Survey Says – Renters Want to Own!

January 13, 2015

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John D’Ambrogio

Fannie Mae recently released it’s national housing survey, and it showed that 2/3 of ‘young renters’ (defined as between 18-39, which is quite a spread in my opinion) think owning makes more sense than renting.

Why?

* Protection against rent increases

* Secure long term investment

It did note that these same ‘youngsters’ have major concerns about qualifying for a loan. That age group often carries over 30k in revolving debt and student loans. A BIG credit score rag down. In addition, that seriously cuts into their ability to put even 10% down on a property.

So what to do? Some are moving back with mom and pop to pay off debt and save, others are going in with roommates in less traditional buyer partnerships. Regardless, it looks like the American dream is alive and well in our nation’s youth!