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”.
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.