In a previous post, I described recent research about drivers of decisions to own homes, with emphasis on the role of behavioral factors. That research confirmed that there is a widespread and deep-seeded preference for homeownership in the U.S., founded largely on beliefs in the benefits of owning, such as wealth development and better outcomes for children. Yet for all homeownership’s assumed advantages, 35 percent of households still rent, and of them, 20 percent report no intentions to buy in the future. This begs the question: who doesn’t want to own a home? Some follow-up research on this topic seeks to answer that question.
We know from my prior research that some demographic groups are less likely to expect to own in the future, including whites, older renters, those with lower incomes, and those without families (Figure 1).
via Housing Perspectives (from the Harvard Joint Center for Housing Studies).
