Renters Under 50 Want to Buy a Home In Bergen County NJ!Homes For Sale In Bergen County NJ | Renters Under 50 Want To Buy A Home Houses for sale in Bergen County , NJ continue to
Homes For Sale In Bergen County NJ Renters Under 50 Want To Buy A Home
Homes For Sale In Bergen County NJ | Renters Under 50 Want To Buy A Home
Now let's talk about Renters Under 50 Want To Buy A Home
Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing.
One of the many questions asked in the housing section of the survey was:
Assuming you had the financial resources to do so, would you like to OWN instead of RENT your primary residence?
Over three-quarters of respondents under the age of 50 said that they would prefer to own their home, rather than rent. While only 52.6% of those over 50 would prefer to own. The full breakdown can be found in the chart below.
When renters were asked what the average probability of owning a primary residence at some point in their future was, 66.4% of those under 50 believed that they would eventually own their home, while only 23% of those over 50 did.
Many had wondered if young Americans had lost their desire to own a home, but for those renting now, that dream is still alive.
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What If I Wait Until Next Year to Buy a Home In Bergen County, NJ ?Houses for sale in Bergen County , NJ continue to experience a sellers market particularly in the entry to middle level homes.