Tagged : first time home buyers

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Are You Under 50 And renting?

Each year, findings in the Survey of Consumer Expectations (SCE) are made public by the New York Federal ReservE. Each survey covers a variety of topics, including inflation, labor market, household finance, credit access and housing.

In the housing section of the survey, one question asked participants: "Assuming you had the financial resources to do so, would you like to OWN instead of RENT your primary residence?"

More than 3/4 of respondents under age fifty replied they would prefer to own their home, rather than rent. While just 52.6% of participants over age 50 said they would prefer to own. The chart below illustrates the full breakdown.

Consumer Expectation Survey | JohnSabia.com

When renter respondents were asked what the average probability of

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