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.
When renter respondents were asked what the average probability of…