Americans Still Prefer Home Ownership To Renting
A LendingTree study shows two-thirds of Americans feel home ownership is preferable to renting. That trend could turn, though, as affordability continues to be an issue.
According to HousingWire.com, the study determined 67% of American homeowners believe owning a home is a better option than renting. However, for many American homeowners, renting is still a viable option.
The report found that age also plays a major role in homeowner satisfaction. According to the study, 23% of Gen Xers claimed to be dissatisfied with their home purchases, this was followed by 21% of Millennials who expressed the same sentiment. When it came to Baby Boomers and those aged 73 and older, LendingTree reports that only 14% and 3% held the same regrets, respectively.
Overall, the study revealed that homeownership tenure is a tremendous indication of whether or not a person is likely to return to the rental market.