Poll: Getting on The Ladder 🏡

This week, we asked the Invstr Community what their opinion is on home ownership. The winner, by just a couple of votes, was the 36 percent of Invstrs, who believe that they might own a home in a few years if they saved money. Home prices have risen by a lot due to a variety of macroeconomic issues, but trends show us that it could start to cool down. This, paired with savings, could possibly get some new homeowners in an optimistic scenario, making this an interesting choice for first place. In second place is the 35 percent of Invstrs who believe that they will own a home due to the benefits over renting. Along with home prices, the tag on rent has gone up by a lot since the start of the pandemic, and this is furthered by the current inflation pandemic occurring in the US. Renters are also facing high chances of eviction, showing the downside, while homeowners are benefitting massively from the current economic climate. This is encouraging more people to plan to become homeowners, which justifies the finish, but you can argue for other choices.

To close out the podium, we have none other than the 17 percent of Invstrs who already own their own home. These people have been the big winners of the pandemic with house appreciation hitting an all-time high, but the low percentage of people in this category helps show the effects. Home ownership is an exclusive club, and more people have been pushed out in the last 2 years. This brings in the 12 percent of people who believe they won’t become a homeowner, and this group likely consists of millennials. Data all over tells us that low supply of houses paired with the rapid appreciation of prices has millennials wondering if they will ever own a house. Higher interest rates are causing an increase in mortgage rates, making it harder for people to get a good loan for their house. With how gloomy statistics have been, it’s surprising these 2 did not get more votes, but data is showing that prices are starting to cool down.

What do you think about the current housing market? Have fun and see you next time with more poll results!

  • The Invstr Team 🙂
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