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Cannot afford! More young Americans plan to rent permanently: down payment is the biggest obstacle

via:驱动之家     time:2019/11/22 10:00:31     readed:134

Recently, according to foreign media reports, a recent survey released by apartment list, an American rental platform, shows that more and more millennial tenants plan to rent houses indefinitely, and down payment is the biggest obstacle to purchase houses.

Data display,12.3% of millennials (in the report, millennials are between 23-38 years old) say they plan to rent indefinitely, compared with 10.7% a year ago

Millennials still want to buy a house one day, but lack of affordability is their biggest obstacle.69% of the tenants who plan to rent permanently say that they don't want to buy it, but they can't afford it

Black and Hispanic millennials are more worried that bad credit will prevent them from getting mortgages. In addition, student debt remains another major obstacle to buying a home. The debt free millennials save about $100 a month compared to those who are still paying off college loans.

It is estimated thatOver the next five years, only 25% of millennial tenants will be able to afford 10% down payment for mid price homes. If students are relieved of their debts, the proportion will increase to 38%

Millennials' expectations of family assistance for home purchases also fell, with 17.4% expecting family support, down from 19.1% a year ago.

Earlier, according to a survey published by the National Association of Realtors, the median age of first-time home buyers in the United States has increased to 33, the highest since 1981. Nearly a third of first-time buyers said they used gifts from relatives or friends to make up the down payment.


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