• “Nearly all non-homeowners said they want to own a home in the future (87 percent), but it’s evident that higher rents and home prices – up 41 percent in the past five years – along with limited entry-level supply and repaying student debthave combined to make buying a challenging goal,” says Lawrence Yun, NAR chief economist.
• In 2016, existing-home sales increased 3.8 percent and hit a 10-year high, but affordability pressures, studentdebt and possible downpayment confusion prevented many aspiring homeowners from reaching the market, according to a recent analysis by the National Association of Realtors® (NAR).
• Of the 39 percent of non-owners in the second quarter survey who said they have student debt, a majority indicated they are not-very or not-at-all comfortable taking on a mortgage (59 percent).
• According to the findings, respondents maintained a favorable view about homeownership last year – over 90 percentof current owners and about eight out of 10 non-homeowners each quarter indicated that owning a home is part of their American Dream.

Source: Florida Realtors