Exclusive: most renters surveyed by Harris Poll say the areas they live in have become so unaffordable they are ‘barely livable’
The poll, conducted by the Harris Poll Thought Leadership and Future Practice, asked survey takers to identify themselves as renters or homeowners, along with other demographic information. Those polled were asked their opinion on home ownership in the United States. For many, especially renters, the outlook is bleak.
Though the vast majority of renters polled said they want to own a home in the future, 61% said they are worried they will never be able to. A similar percentage believe no matter how hard they work, they’ll never be able to afford a home.
“When you think about Maslow’s hierarchy of needs, and housing is right at that foundational level of security, the implications on consumer psyche when things feel so unaffordable is something that will impact everyone,” said Libby Rodney, chief strategy officer at Harris Poll. The American dream of owning a home “is looking more like a daydream for renters”.
Veterans get their loans backed by the government, so no down payment.
It allowed me to get a decent sized 3 bedroom house on almost an acre inside of a metro location… For $400 more than a 1 bedroom apartment down the street a decade ago. I got two friends as roommates at first, paid lower than my old rent and they saved up their own down payments and both moved out into homes they bought in just a few years because I charged really cheap rent.
I just checked, my old apartment has went up $700 in that decade.
The Down Payment is the hardest part of buying a home. You can’t save up 25k while paying what’s essentially a mortgage payment.
Give first time homebuyers the same program, and loads of people who think they’ll never own a home would be able to do so and pay less than renting within just a few years.
If we don’t do anything, those people are going to be lifelong renters.
Very easy to own a home. Just buy a house in the middle of nowhere, and then have a campervan
Doesn’t even need to be middle of nowhere. Just needs to be ~30 minute drive away from city core. Cheaper suburbs are still very much affordable in every city I have seen.
Sometimes you gotta go out to that 20-30 min away “next nearest” smaller town that’s right next to the big city but isn’t actually in it. It has all your amenities and plenty to live off of, but if you wanna go to the big city’s malls, theaters, concerts, etc, you gotta drive 30 min instead of walk there.
Usually you can get very decent starter homes for 250k to 300k in said places, and usually in said “one off” towns the renting industry is much more slow, so you don’t have that “you have to buy NOW” pressure. Homes stay up for sale for a bit and you have more than 3 hours to make an offer lol.
Downside is now you need a car… though often even then the smaller towns have some form of public transport to the bigger city you can use, though it can be on a rarer schedule. IE your bus may only come every 2 hours so better not miss it.
I prefer “edge of the city suburbs” over “one town over” personally. Access to public transport means I skipped buying and paying for a vehicle and skipped straight to saving up for a house.
Just needs to be ~30 minute drive away from city core.
I skipped buying and paying for a vehicle and skipped straight to saving up for a house.
It’s not just this. Everything you said is objectivity bad advice.
Try looking in CO. The only house within 30 min of my job under $300k that isn’t a trailer or a tiny condo in this one old shithole building says, “everything needs to be repaired including structural repairs” in the listing. Trailers are still pretty much rentals and lot rent is outrageous ($800-1200 at basically every park that isn’t located directly on a hellmouth). Oh wait, I could go 90 min out and get a sweet deal of just $220k on a house that’s basically just a rotting outside and interior framing and insulation. What a great opportunity!
Try looking in one of the most desirable places to live in the country right now??? Are you all clueless???
Of course everything in CO is super pricey it got all that sweet Cali money flowing in.If you’re expecting popular places to be even reasonably priced you’re kidding yourself.
It’s like going to a Bentley dealership and saying well where’s the bargain lot?!?!
You look foolish.
The original comment said, “Cheaper suburbs are still very much affordable in every city I have seen.” Denver is a city. Pretty sure if anyone looks foolish, it’s the person who couldn’t apply context to my reply…
Perception doesn’t meet reality in this case.
Admittedly we are at a high point and prices are strained, and we should work to reverse that trend. However, home ownership is still very much obtainable. Gen Z is already doing better than millennials.
https://fortune.com/2024/01/17/redfin-baby-boomers-gen-z-housing-market-homeownership/
Gen Z already is at 26%.
Corporations should not be allowed to own and rent out multiple dwellings beyond a single apartment building.
About 36% of US population rents (same as developed countries like Denmark and New Zealand), so I am confused why this is being framed as a uniquely American problem? I think the issue with real estate being sold to corporations is the main problem (which happens everywhere) as unreasonable expectations for continued growth and lack of new housing prices people out. Where I get the figures: link
America is the only country, am I rite?
The article is about American dream, what’s your point?
Just saw a report in Georgia, cooperation owns tens of thousands of homes for lease only
The amount of people justifying this ridiculous housing bubble is disgusting.
So much love for landlords in this thread, on lemmy of all fucking places.
You know why they call it the dream right?
When I was in my late teens/early twenties I truly thought that in ten years I’d own a home for sure, with some hard work and dedication.
Ten years later, I don’t even get to buy groceries every week or eat every day. I’ve lost 30 pounds in the last year just from skipping so many meals.
I can’t wait to see what the next ten years holds.
And if one more person tells me I should make sure to invest for retirement… I can’t even feed myself, what you want me to invest? My retirement plan is work until I’m too old/sick/injured and then off myself.
It sounds like you need to rethink your grocery habits, or your job is woefully underpaying you, or you need to move somewhere with a non-insane cost of living.
Do you live far up north or something where groceries cost an arm and a leg due to transport costs?
Poor Ron lost his tennis court and his property value may fall. Have a heart guys.
I’m currently selling my house because I can’t afford it anymore. When I bought the house I made sure it was 20% below my income. Mortgage went up $600 this year along with everything else I got robbed of home ownership. I worked tirelessly to buy the house and now being forced to sell I feel absolutely defeated…
I’m curious as to why you weren’t in a fixed rate mortgage.
Maybe it’s tax and insurance increases. That’s what I’m seeing.
I’m at a fixed rate and my mortgage went up by $1200 a month. Mostly due to taxes increasing so drastically. They didn’t forecast the increase being so much so that caused problems in itself.
I’m calling bs. Post the numbers cuz this is laughable unless you have an ARM
This happens though. Property values increase around you and suddenly grand dad’s pension won’t cover land taxes.
Only place I’ve hear this happening so drastically is in Cali.
