Nearly 70% of renters say they can’t buy a home due to the expensive down payment, despite the fact that a monthly mortgage payment might be cheaper than rent, according to the first Zillow Housing Aspirations Report, released Wednesday.
Two-thirds (67.9%) of renters nationwide cite saving for a down payment as the biggest hurdle to buying a home; 53.2% also mention qualifying for a mortgage as an obstacle; 50% say debt is holding them back; and 38.5% call out job security.
Read more...Renters Say Down Payment Costs Prevent Home Purchases | Multifamily Executive Magazine | Rent Trends, Home Prices, Rent vs. Own
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