Renters Aren’t Saving to Buy a House

Renters in survey after survey say they want to be home buyers, but are they setting aside the cash to make it happen? Not according to a survey conducted in October by Harris Poll for Freddie Mac.

More renters said they consider saving for emergencies (59 percent), retirement (51 percent), and children’s education (50 percent) an “essential/high priority.” Only 39 percent said saving for a down payment was a high priority.

This is particularly surprising given fast-rising rents. The share of renters who say they now have to put off plans to purchase a home rose to 55 percent in October from 44 percent in the last Freddie Mac survey.

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