More renters worry they’ll never be able to buy home: Survey
thehill.com
An increasing number of renters are worried they will never be able to buy a home, with many pointing to the lack of affordability as the main culprit, according to a survey released Friday by Redf…
  • @[email protected]English
    9•7 months ago

    And 50 more % won’t be able to afford one either, but they stopped worrying an about it.

  • AutoTL;DRBEnglish
    0•7 months ago

    This is the best summary I could come up with:

    An increasing number of renters are worried they will never be able to buy a home, with many pointing to the lack of affordability as the main culprit, according to a survey released Friday by Redfin.

    More than 1 in 4 renters, 44 percent, don’t believe they will be able to purchase a home due to affordability.

    Rising interest rates since the end of the pandemic have increased the costs of mortgages since then.

    To afford a starter home, first-time homebuyers would have to earn around $76,000, according to a Redfin analysis published in late March.

    “Housing costs are high across the board, but renting is a more affordable and realistic option for many Americans right now–especially those who have never owned a home and aren’t able to tap into equity from a previous sale,” Redfin chief economist Daryl Fairweather said in a statement.

    “While owning a home is usually a sound long-term investment, the barriers to entry and upfront costs of buying are higher than renting.

    The original article contains 376 words, the summary contains 167 words. Saved 56%. I’m a bot and I’m open source!