A new survey from Fannie Mae reveals that the traditional patterns of homeownership are shifting around the country. Housing Wire’s Christine Ricciardi wrote up the most interesting findings from the survey:
Although 51% of survey respondents said the housing crisis has not affected their overall willingness to buy a home, 33% said they would be more likely to rent their next home than buy. In January, 30% of Americans surveyed said they would rent a home the next time around.
Overall, 89% of homeowners, as well as 49% of renters, feel they would be better off owning a home in the current economy. However, Fannie Mae found that the homeownership rate among young adults (ages 25 to 29) decreased 11% “since peak rates” before the housing crisis.
Married couples are the most likely to own a home. However, Fannie Mae said that portion of the population is increasingly shrinking — down to 50% of households in 2009 from 56% in 1990.
The survey found that 58% of single-mothers rent. Seventy-eight percent of survey respondents cited children as a major reason to own a home.