Real Estate News

Kelly Sweeney, CEO Coldwell Banker Weir Manuel

Reason: “It makes more sense to rent than to own.”

Rather than speculate on this issue, why not look at some hard data. Let’s ask renters, not homeowners, what they think? Fannie Mae’s National Housing Survey 2010 reported:

* 58% of current renters believe now is a good time to buy a house
* 75% of current renters believe owning a home makes more sense and
* 67% plan to buy a home at some point in the future

When they asked current renters for the major reason to buy a house, these were their answers (they could pick multiple answers):

* 78% said it was a good place to raise children
* 75% said because they would feel safe
* 70% said because you have control of your own space
* 66% said owning a home would be a good way to build wealth
* 54% said paying rent is not a good investment

If it makes more sense to rent than own, why do more than half of renters think now is a good time to buy, three out of four believe owning a home makes more sense and two out of three plan to buy a home in the future?

To believe that renting makes more sense is to believe that the majority enjoy living in a less safe environment, which wouldn’t be as good a place to raise children; a place where they have less control of their space and a place that won’t enable them to build wealth.
It just doesn’t make sense!

This entry was posted on Thursday, August 26th, 2010 at 2:02 pm and is filed under real estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.