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Thursday, December 9, 2010

Fannie Mae survey finds traditional homeownership changing

This survey needs to be conducted again if mortgage rates hit 7% for any long period of time.
Although 51% of survey respondents said the housing crisis has not affected their overall willingness to buy a home, 33% said they would be more likely to rent their next home than buy. In January, 30% of Americans surveyed said they would rent a home the next time around.
Overall, 89% of homeowners, as well as 49% of renters, feel they would be better off owning a home in the current economy. However, Fannie Mae found that the homeownership rate among young adults (ages 25 to 29) decreased 11% "since peak rates" before the housing crisis
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