Dive Brief:
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More than 90% of renters hope they will own homes someday, according to a survey by Freddie Mac.
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Yet most tenants feel financially strapped and estimate they will continue to rent their homes for at least three more years, the survey said.
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Still, some say they intend to rent indefinitely—not for financial reasons, but because they don’t want the responsibilities that come with homeownership.
Dive Insight:
Several economic forecasts for 2015 are predicting a return of the first-time homebuyer to the housing market as soon as next year. In addition, an expected easing of credit requirements for mortgage applicants and a lower required down payment are expected to convert many renters to homeowners.