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61 percent of renters worry they’ll never own a home
The Hill ^ | 03/12/2024 | Alejandra O’Connell-Domenech |

Posted on 03/12/2024 12:50:08 PM PDT by ChicagoConservative27

Most Americans still dream about owning their own home but over 60 percent don’t think they will ever be able make that dream come true, according to a new survey from market research firm The Harris Poll.

The 2,047-person survey shows while 81 percent of U.S. adults would like to own a home in the future, 61 percent don’t think they will ever be able to do it.

A sizeable number of Americans — 42 percent — believe that no matter how hard they work they will never be able to afford a home they really love.

For most Americans, the biggest barrier preventing them from purchasing their own home is not enough money for a down payment.

According to the survey, 51 percent of American adults said they don’t have enough capital for a down payment — an 11 percent increase from 2022 numbers.

Meanwhile, 50 percent said high mortgage interest rates were the biggest obstacle they faced in owning a home.

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: home; own; renters; worry
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They are building new apartment buildings by me such as weeds popping up in spring. I don't get it.
1 posted on 03/12/2024 12:50:08 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

I’ve rented my entire life. Never wanted a house.


2 posted on 03/12/2024 12:51:22 PM PDT by Fledermaus (Is it me, or all of a sudden have the buried trolls come out on FR like cicadas? It's all noise.)
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To: ChicagoConservative27
They are building new apartment buildings by me such as weeds popping up in spring. I don't get it.

I think millennial's don't want to be tied down to an appreciating asset.

3 posted on 03/12/2024 12:51:36 PM PDT by 1Old Pro
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To: ChicagoConservative27

You never truly “own” a home anyway. Try not paying property tax and see what happens.


4 posted on 03/12/2024 12:53:33 PM PDT by wastedyears (The left would kill every single one of us and our families if they knew they could get away with it)
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To: wastedyears

Truth


5 posted on 03/12/2024 12:53:53 PM PDT by ChicagoConservative27
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That’s the Rats’ & Globalists’ plan.

Destroy ownership. Destroy independence.


6 posted on 03/12/2024 12:53:58 PM PDT by Gene Eric (Don't be a statist! )
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To: 1Old Pro
don't want to be tied down to an appreciating asset.

don't want to be tied down to an (artificially) appreciating asset that doesn't actually belong to them.

Fixed it! Gen X, btw. That $1 million dollar home might be worth $100k, without the artificial propping up of the real estate market through various governmental interference.

7 posted on 03/12/2024 12:56:06 PM PDT by dware (Americans prefer peaceful slavery over dangerous freedom)
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To: wastedyears

Property taxes are another scam


8 posted on 03/12/2024 12:56:59 PM PDT by mikelets456
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To: ChicagoConservative27

Feudalism is back in style. Investors are snatching up homes for cash. Who else has a million for a 1500 3bed 2bath on. 0.5 acres cash.


9 posted on 03/12/2024 12:58:12 PM PDT by momincombatboots (BQEphesians 6... who you are really at war with. )
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To: ChicagoConservative27

In the twenty years or so I have been a landlord, only one renter has bought his own house. Here are some of the reasons.
* No money control. My renters have way too much useless stuff. Often when they move they leave dozens of pounds of often brand-new garments, towels, furniture and “stuff.” An older couple owns several brand-new, very expensive pickup trucks. When the man lost his job, they stopped paying rent and the collection agencies were at the door. He took a job in another state and they may...may, pay their rent this month. But this buying too much stuff is typical.
* Drug use and too much alcohol is very common among renters. Pretty much everyone I’ve had to evict was using drugs.
* Living off some government program that requires they keep their income capped. They often stop working at some point to keep their income low enough to still qualify. They’d rather live on less money and sit at home stoned for three months.


10 posted on 03/12/2024 1:00:28 PM PDT by Gen.Blather (Wait! I said that out loud? )
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To: momincombatboots

big companies are buying ‘em up and then renting them out. newest wrinkle on one such company’s website is “rent to own.” cool schtick but will bet most of those renters will never, ever overcome the hurdle.

a good downturn might force mass liquidation and some elasticity in prices, though.


11 posted on 03/12/2024 1:01:26 PM PDT by xoxox
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To: ChicagoConservative27
Home ownership can be a raw deal for many people — even if they can afford it.

I decided long ago that I would not want to own a home unless it was also being used as a place of business. Personally, I think that is the truest modern application of the concept of “private property” in the U.S. today.

12 posted on 03/12/2024 1:01:46 PM PDT by Alberta's Child (If something in government doesn’t make sense, you can be sure it makes dollars.)
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To: ChicagoConservative27

because of regulations, cities wont allow affordable homes to be built anymore.


13 posted on 03/12/2024 1:03:22 PM PDT by TexasFreeper2009
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To: ChicagoConservative27

Apartments...One man’s floor is another man’s ceiling...They suck bad. That’s no way for people to live.


14 posted on 03/12/2024 1:04:21 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: wastedyears

dont fool yourself, renters pay property tax, it’s the reason you pay so much for rent and why rent always goes up (along with taxes)


15 posted on 03/12/2024 1:05:04 PM PDT by TexasFreeper2009
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To: dware
... That $1 million dollar home might be worth $100k, without the artificial propping up of the real estate market through various governmental interference.

Give us a rough accounting of that value added by 'government interference.'

16 posted on 03/12/2024 1:13:10 PM PDT by gloryblaze
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To: ChicagoConservative27

40 million illegals have to live somewhere. That drives up rent for regular Americans.


17 posted on 03/12/2024 1:17:57 PM PDT by UnwashedPeasant (The pandemic we suffer from is not COVID. It is Marxist Democrat Leftism.)
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To: ChicagoConservative27

Keep renting, that’s what Blackrock wants.


18 posted on 03/12/2024 1:26:04 PM PDT by ProudDeplorable (Concentrated power has always been the enemy of liberty. ~ Ronald Reagan)
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To: ChicagoConservative27

Most Americans want to own homes but 60% of them don’t believe they ever will but the headline says 60% of renters believe they will never own homes. I wonder how many homeowners believe that they will never be able to own a home. Probably 60%.


19 posted on 03/12/2024 1:43:58 PM PDT by webheart
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To: ChicagoConservative27

Truthfully most Americans live the highest lifestyle their income will allow. They aren’t willing to live a lesser lifestyle for a few years to save up for a down payment.


20 posted on 03/12/2024 1:49:08 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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