Most Americans favor buying a home to renting, this according to the latest quarterly national housing survey conducted by Fannie Mae.
Across all education levels, across all demographic groups and across all income groups, Americans say that owning a home makes more sense than renting.
“The survey finds that despite the recent housing crisis, most Americans continue to believe that owning their home is preferable to renting it,” Fannie Mae said in a statement.
Close to 2/3 of the present U.S. renters say they plan to buy a home at a certain point in the future.
The top reasons for buying a home in the future include non-financial factors such as quality of local schools and safety.
Doug Duncan, vice president and chief economist of Fannie Mae, in a statement said, “In spite of the impact of the housing crisis on home values and homeownership rates across the country, Americans by and large still hope to become homeowners.”
The vice president and chief economist of Fannie Mae added, “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.”
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