BY BRAD BECKETT ON OCTOBER 23, 2018
According to a new report from Freddie Mac, over three-quarters of Americans now see renting as more affordable than owning a home. The data, as reported by the Wall Street Journal (reposted on Realtor.com), also says demand for “for-sale” housing could remain soft in the coming months with 58% of renters saying they don’t currently have plans to buy a home.
“Demand for rentals swelled after the recession, as millions of families lost their homes to foreclosure and tight credit made it difficult for young people to buy homes. Rents rose by double-digit percentages in many cities and the share of families who couldn’t afford their rent swelled to record highs.”