ReBlogged from: Housingwire – Trey Garrison
Conventional wisdom has it all wrong, survey says.
Conventional wisdom holds that rising rents drive people to homeownership, but new research from Freddie Mac suggests the conventional wisdom is all wrong.
Freddie Mac commissioned Harris Poll to survey more than 2,000 U.S. adults online in March 2015 to get their perceptions about renting.
"We’ve found that rising rents do not appear to be playing a significant role in motivating renters to buy a home," said David Brickman, EVP of Freddie Mac Multifamily. "This contradicts what some in the housing market think as they expect more renters ought to be actively looking to purchase a home. We believe rising rents are primarily a sign of increased demand rather than a signal that home purchases will be increasing."
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