Buy vs. Rent

BUY VS RENT BUY 18% OF AMERICANS EXPECT HOME PRICES TO INCREASE OVER THE NEXT YEAR 25% EXPECT HOME PRICES TO DECLINE 68% OF AMERICANS SAY IT'S A GOOD TIME TO BUY A HOME 10% SAY IT'S A GOOD TIME TO SELL 43% OF AMERICANS BELIEVE THAT HOME RENTAL PRICES WILL INCREASE OVER THE NEXT YEAR VS RENT 32% OF AMERICANS SAY THEY WOULD RENT THEIR NEXT HOME 63% SAY THEY WOULD BUY MEDIAN ASKING RENT FOR THE US AND REGIONS $696 $708 $698 $684 $665 $605 $633 *05 *06 "07 "08 "09 '10 '11° *1S AND 2ND QUARTER OF 2011 MEDIAN ASKING SALES PRICE FOR THE US AND REGIONS 188K illi 179K 169K 157K 140K 140K 141K "05 "06 *07 "08 "09 '10 '11° *1S AND 2N0 QUARTER OF 2011 OF OCCUPIED HOUSING UNITS ARE OWNED 45% BY THOSE WHO HAVE A MORTGAGE ON IT 35% ARE RENTALS 20% ARE OWNED FREE AND CLEAR 95% OF OWNERS AND 72% OF RENTERS BELIEVE THAT, OVER A PERIOD OF SEVERAL YEARS, IT MAKES MORE SENSE TO OWN A HOME A FULL 93% OF OWNERS SURVEYED WOULD BUY AGAIN THE MAJORITY OF RENTERS (63%) SAY THEY ARE AT LEAST 'SOMEWHAT LIKELY' TO PURCHASE A HOME AT SOME POINT IN THE FUTURE. AMONG THEM, YOUNG ADULTS (18-24 YEARS) HAVE THE STRONGEST ASPIRATIONS FOR HOME OWNERSHIP 29% OF OWNERS AND 12% OF RENTERS 34% OF OWNERS AND 41% OF RENTERS WOULD PREFER TO BUY A WOULD PREFER TO BUY AN NEW HOME existing home 74% OF OWNERS AND 62% OF RENTERS SAY 87% OF OWNERS AND 73% OF RENTERS FEEL HOMEOWNERSHIP IT'S "EXTREMELY" OR "VERY" IMPORTANT IS AN ECONOMIC CORNERSTONE THAT MORTGAGE INTEREST DEDUCTION REMAIN IN PLACE 2 MILLION POTENTIAL HOME CAMONG RENTERS WHO ARE "VERY" OR BUYING CUSTOMERS ARE WAITING "EXTREMELY" LIKELY TO BUY A HOME IN TO JUMP INTO THE MARKET WHEN THE FUTURE, THREE OUT OE FIVE CONSIDER THE TIME IS RIGHT CONFIDENCE IN JOB SECURITY OR CREDITWORTHINESS TO BE AN OBSTACLE HOMEOWNERS & RENTERS AGREE THAT HOMEOWNERSHIP BENEFITS INDIVIDUALS AND FAMILIES, STRENGTHENS OUR COMMUNITIES, AND IS INTEGRAL TO OUR NATION'S ECONOMY MORE THAN HALF OF OWNERS (56%) ARE "VERY' OR 'EXTREMELY' SATISFIED WITH THE OVERALL QUALITY OF THEIR FAMILY LIFE, ONLY ABOUT A THIRD (36%) OF RENTERS REPORT THE SAME LEVELS OF SATISFACTION 89% OF OWNERS AND 59% OF RENTERS FEEL THAT HOMEOWNERSHIP IS IMPORTANT TO THE AMERICAN FAMILY OWNING A HOME GIVES PEOPLE AN INTANGIBLE SENSE OF SECURITY AND CONTROL OVER THEIR LIVES THAT GOES BEYOND THE FINANCIAL BENEFITS OF HOMEOWNERSHIP INDEX FANNIE MAE - MONTHLY NATIONAL HOUSING SURVEY U.S. DEPARTMENT OF COMMERCE - U.S. CENSUS BUREAU NEWS US. CENSUS BUREAU - AMERICAN FACT FINDER NATIONAL ASSOCIATION OF REALTORS - " HOME OWNERSHIP MATTERS: HOME OWNERSHIP AND SENSE OF CONTROL" NATIONAL ASSOCIATION OF REALTORS *AMERICAN ATTITUDES ABOUT HOME OWNERSHIP REALTY TIMES - YOU CAN'T KEEP A GOOD HOMEBUYER DOWN newamerican FUNDIN G We put the I can in American ----