Nearly all young renters want to own a home, even if many are also pessimistic that economic conditions will allow them to, finds a new survey by the National Association of Realtors.
Wall Street Journal staffer Laura Kusisto offers top line analysis of the NAR's quarterly survey of both renter and owner households. The data shows a pick-up among renters who say that they would own if they could afford to, and plan to in the future. Many are not that confident about the economy, and a good few would say the country is in recession. Still, the study seems to support that "pent-up" demand for homeownership is healthy and growing. Kusisto writes:
Nearly 95% of renters 34 years old or younger want to own a home in the future and overall 83% of renters said they have a desire to own, according to NAR’s new quarterly survey of renter and owner households.