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News & Press: Industry News

Freddie Mac Survey Shows Preference for Renting

Tuesday, April 17, 2018  
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Research released by Freddie Mac finds that increasing numbers of our population are less interested in owning their own home, largely due to affordability.

The latest "Profile of Today's Renter" released by Freddie Mac found that 67% of renters view renting as more affordable than owning, including 73% of baby boomers. Similarly, 67% of renters say they will continue to do so for financial reasons, up from 59% just two years ago. Half of the baby boomers currently renting do not anticipate buying a home in the future, up eight points from just six months ago. Some just do not have an interest in owning while many believe that they will never be able to afford it. An increasing number of Gen Xers (aged 38-52) feel the same way. David Brickman, Executive Vice President and head of Freddie Mac Multifamily stated that this is "an historic shift in preference among older Americans, as they increasingly are choosing the size, convenience and affordability that renting offers over ownership." It is probably no coincidence that the S&P Core Logic Case-Shiller National Home Price Index has been heading higher and higher.

California Land Title Association

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