Tuesday, September 25, 2012


More up-to-date info from John Burns.....

Single Family Renters are different from other renters because they:
  - Have higher incomes
  - Have lower credit scores
  - Have larger households with more kids
  - Are less likely to believe their rent will increase
  - Are more likely to intend to buy a home someday (70% to 59%)
  - Value safety more, and surprisingly see single-family homes as a safer environment

Single-family and multifamily renters bear some resemblance to each other. They both:
  - Believe homeownership makes more sense than renting
  - Believe obtaining a mortgage is very difficult
  - Believe owning provides a safer environment than renting
  - Do not believe home prices will go up in the next year
  - Are not concerned about losing their job in the next year

The two main differences are:
  - Multifamily renters are more likely to anticipate a rent hike (53% to 44%)
  - Single-family renters find credit to be the biggest hurdle to homeownership (29%) while multifamily renters find income to be the biggest hurdle (25%).

View the chart:


Courtesy of:
 John Burns Real Estate Consulting, LLC
16485 Laguna Canyon Road, Suite 130
Irvine, California 92618