Business Week: What Makes a Renter vs. an Owner
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In the pantheon of enduring debates, the question of renting vs. buying reigns king, a boxers-vs.-briefs with real consequences. Fannie Mae’s new Rent-Own Analysis shows that what shapes an individual’s future plans depends largely on their current status. For renters or borrowers with a mortgage, their attitudes about housing and money drive their intentions of what to do the next time they move.
For people who own their homes outright, income and age are the factors that weigh heaviest in decision-making. This cohort of homeowners tend to be wealthier and older. Some aging homeowners don’t see the value in buying again.
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