Boston Renters: Don’t rent buy a Boston condo
Why aren’t more Boston renters becoming Boston condo owners? In a recent study from Liberty Street Economics they discovered that new and existing home sales are about 5% lower in the first half of 2014 than over the first half of 2013 nationwide. The report also indicated the younger generation is remaining renters longer than previous generations.
The chart below indicates how renters who provided a probability of buying of below 60 percent were asked: “Which of the following are reasons you would rent and not purchase a home if you were to move over the next three years?” They could (and did) pick multiple options from the responses shown in the chart below.
Are you a Boston renter? If so, why are you renting and not buying a Boston condo?