Posts Tagged ‘renting vs buying’

Newest Poll Finds that Renters Want to Buy

Thursday, March 29th, 2012

Americans still believe in home ownership, but they’re spooked about the mortgage process, a survey finds.  According to a quarterly national housing survey of 3,000 Americans conducted by Fannie Mae, 2/3 of renters — across educational and demographic levels — say they want to purchase a home in the future.

“In spite of the impact of the housing crisis on home values and home ownership rates across the country, Americans by and large still hope to become home owners,” says Doug Duncan, Fannie Mae’s chief economist. “Some may not be financially positioned to own a home in the near future, but Americans may begin to revisit that aspiration as employment and household balance sheets improve over the coming years.”

However, Duncan also says many renters are expressing caution about the home buying process when it comes to qualifying for a mortgage and navigating the mortgage process.

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

John R. Wood Realtors – The Symbol of Local Knowledge.

Source: fanniemae.com

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Naples Real Estate – Low interest in homeownership seems greatly exaggerated

Wednesday, November 9th, 2011

Over the last few years, there have been a multitude of reports suggesting that interest in American homeownership is all but dead. Many reports have even suggested that our country is growing into a rental society.  The proof stated by these reports alleges that the younger generations no longer see the value in owning over renting.

However, in the past week, two news items might refute these points. First, DSNews reported the homeownership rate actually increased in the last quarter; the first quarterly increase in two years.

“After falling to a 13-year low during the second quarter, the homeownership rate posted a highly unexpected rise in the third quarter, according to a Census Bureau report.”

Then, Fannie Mae released their 2011 3rd Quarter National Housing Survey. Findings reported that both Generation Y (birth date mid-1970s to mid-1990s) and Generation X (birth date mid-1960s to mid-1970s) have stronger beliefs in the importance of homeownership than those of the general population.

Here are the numbers for the three major reasons to buy (as per the survey) with the percentage who believe in each reason:

1. It is a good place to raise children and provide them with a good education:

  • Generation Y: 84%
  • Generation X: 81%
  • General Population: 80%

2. You have a physical structure where you and your family feel safe:

  • Generation Y: 77%
  • Generation X: 79%
  • General Population: 76%

It allows you to have more space for your family:

  • Generation Y: 76%
  • Generation X: 77%
  • General Population: 73%

Both generations also believe in homeownership as an investment. 70% of Generation Y and 66% of Generation X see homeownership as a safe investment while 64% of the general population believes so.

The younger generations have the same if not a higher level of belief than earlier generations.

If you’re looking to buy real estate in Southwest Florida, now is a great time!

To find homes for sale in Naples, Bonita Springs and Estero Florida, click HERE!

John R. Wood – The Symbol of Local Knowledge.

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