Renters fear theyll never own a home: Fed Survey [Video]

The share of renters in the U.S. who believe they will someday own a home has plummeted over the past year, as the home affordability crisis continues to make the American dream appear too far out of reach.

The New York Federal Reserve’s 2024 SCE Housing Survey released Monday found renters’ perceptions about the ease of obtaining a home mortgage have “deteriorated substantially” since 2023. 

The percentage of renters who say that obtaining a mortgage is somewhat or very difficult jumped to 74.2%, a more than 8 percentage point increase from last year, and far above the low of 50.5% in 2021, the survey found.

At the same time, the percentage of renters who said they believe they will eventually become homeowners fell to 40.1%, a drop of 4.3 percentage points from last year and a new series low in the survey that has been conducted for a decade.

WALL STREET HAS SPENT BILLIONS BUYING HOMES. A …