Fewer Millennials Believe Buying a Home Better Option than Renting

A recent survey of younger potential home buyers in Georgia and other areas of the country indicates that fewer millennials believe that buying a home is more beneficial than renting. While a similar survey two years ago indicated that 83% of younger Americans believed that buying a home would be more beneficial than renting a home, that number dropped to 61% in the most recent quarterly survey. Over half of the individuals surveyed believe that homes will drop in value in the future and nearly seventy percent worry about a future housing crisis.  Other concerns include rising interest rates, which would make home loans more unaffordable.  Demand for housing in the Atlanta area, however, remains strong.

Buying or refinancing? Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net.


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