by Mike ‘Mish’ Shedlock
Many renters who were in the market to buy a home pre-Covid just threw in the towel.
A lifestyle survey shows millennials top the list of those canceling home-buying plans.
At the start of 2020, 11% of renters said they were ready and planning to buy a home this year, according to a recent survey conducted on RENTCafe.com. Conditions were looking up for Gen X renters, 15% of whom were making plans to buy a home this year, as well as for 14% of Older Millennials. However, the pandemic has obstructed the path to homeownership for 43% of renters ready to buy, our survey results revealed
The survey, which ran at the end of May 2020, asked 7,000 renters about their housing plans before and after the coronavirus hit.