The younger generation and their optimism on home buying.
Young Optimism – What the younger generation is saying about owning a home from California Association of Realtors’ “One Cool Thing”.
Whether they are in a position to buy now or are still saving toward their dream, young renters are optimistic about home ownership.
“One Cool Thing” took a survey on the younger generation’s optimism on the pluses of owning a home versus renting:
- 81% of the younger generation felt owning a home allows you to live in a nicer home.
- 80% of the younger generation felt owning a home was a good way to accumulate wealth.
- 76% of the younger generation though owning a home was a good investment to make over the long run.
- 75% of the younger generation felt owning a home helped you engage in your community.
- 66% of the younger generation thought owning a home instead of renting will leave you better off overall financially.
- 62% of the younger generation thought it gives you a better sense of privacy and security.
- 51% of the younger generation felt owning a home instead of renting would be the best decision given the current economic climate.
In 2013, on average, 89% of younger renters said they were still planning to buy a home at some point in the future.