9/26/2013 - Americans optimistic about renting, yet still aspire to homeownership
While most renters today say they can't complain about the experience they've had living in an apartment, the overwhelming majority of them indicate that they still aim to own a home at some point in the future, a recent survey finds.
According to a new poll conducted by Fannie Mae, approximately 90% of renters indicate that they plan on purchasing a home for themselves in the days ahead, even though they say that renting life has been ideal.
It appears as though those who aspire to homeownership won't be assuming that mantle soon, as about four in 10 of renters say they will not buy a residence for at least five years. Additionally, among young renters, individuals between 18 and 34 years of age are two times more likely to believe that renting is preparing them for the time in which they transition to buying a residence.
Financial readiness is a key component of adult life for renters and homeowners. While the vast majority of individuals who own a home have insurance protection, the same can't be said for apartment dwellers. A recent Insurance Information Institute poll found that just one-third of renters today have renters insurance.