In a new survey from the National Association of Realtors, 94% of young renters aged 34 or below say they are willing to own a home in the future.
The Housing Opportunities and Market Experience (HOME) survey tracks topical real estate trends, and asks consumers questions about home buying expectations and mortgage experiences. Lawrence Yun, chief economist of NAR, says:
"Despite entering the workforce during or immediately after the worst of the financial and housing crisis, the desire to become a homeowner appears to be a personal goal for a convincing majority of young renters. Furthermore, there appears to be sizeable, pent-up demand for buying that currently remains untapped because of a variety of economic and personal reasons impacting many households."