Attitudes and preferences about housing may be changing according to analysis from Trepp and data from the Federal Reserve Board of Governors.
Part of the apparent shift may be due to a demand-supply challenge. There aren’t enough houses being built to satisfy everyone, a well-known dynamic. But there are also indications that consumers, particularly younger ones, are shifting some of their preferences and not only just because they lack funds.
Age, far over geographic region, showed wide dispersion in whether people rented or owned homes. Across the full sample, 64% of people owned their home, 27% rented, and 9% did neither. That latter category could include people who were homeless or lived with friends or family. It’s unclear whether people who said neither might also have qualified if they were students living on campus.
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