Homeownership rates are unlikely to increase anytime soon, a Gallup poll released Wednesday showed, with just 25% of nonhomeowners saying they expect to buy a home within five years and 23% within 10, the lowest figures since the questions were first asked in 2013.
The poll of 1,006 Americans aged 18 and older conducted April 1-14 revealed that only 5% of nonhomeowners said they would buy a home within the next year and 45% said they don’t see buying a home in the foreseeable future. The poll has a margin of error of +/- 4 percentage points.
No fewer than 41% of respondents expected to buy a home within five years when Gallup asked the question in surveys conducted between 2013 and 2018. Also, the combined percentage who were planning to buy within five or 10 years, 48%, is the lowest that Gallup has recorded.
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