More than 60 percent of respondents in a new ING International survey say they want to own a home. Up to 56 percent think they'll never be able to.
Data from Zillow says that the median home price has risen nearly 33 percent since 2012, while average hourly earnings have increased only 14 percent. Emergent Research anticipates the amount of people working in the gig economy will be up to 9.2 million by 2021 from 3.9 million in 2016, affecting the likelihood of potential homebuyers qualifying for a mortgage, Fortune reports.
As ING points out, just because people are pessimistic doesn’t mean they’ve given up. Three in five Europeans—and 70 percent of the 18-34 age group—would still like to own their own home, not least because they see it as a sign of success, as well as a smart money move.
Advertisement
Related Stories
Market Data + Trends
10 States Where Home Insurance Rates Have Risen the Most
Responding to the increasing number of natural disasters, insurers are hiking prices, with some states bearing the brunt more than others
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
