Prospective homebuyers are being sidelined by too-high housing costs, with 84 percent of those in a recently released survey put out by unaffordability.
The results of a survey by Habitat for Humanity International reveal cost is not the only barrier to homeownership, however; obtaining a mortgage, cited by 75 percent of those surveyed, is also a roadblock. Fifty-nine percent of those surveyed reported affordability as a “top U.S. housing issue.”
Moreover, 65 percent of those surveyed reported being challenged by housing costs in the past, while 25 percent reported currently having difficulty with expenses. Survey respondents in their 20s were most likely to report a struggle.
Still, homeownership remains the end goal for most—92 percent of those surveyed believe owning a home is “one of their greatest achievements in life.”
“In many ways, housing is an invisible crisis,” says Jonathan Reckford, CEO of Habitat for Humanity International. “There are still too many families without access to safe, secure and affordable housing. This survey highlights the value all of us place on a decent place to call home and underscores the critical need to increase access to affordable housing.”
Source: Habitat for Humanity International
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