Renters discouraged

While close to 70% of renters say that they would prefer to own a home if they were financially able to, nearly 75% believe that getting a mortgage is difficult, up from 50.5% as recently as 2021.

Of course, mortgage rates have skyrocketed during this time and many renters expect rates to climb even higher in the years ahead.

Not surprisingly, the percentage of renters who believe they will eventually own a home has dropped to 42%, down from 56% just 8 years ago.

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