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Faced with a white-hot real estate market, renters are losing confidence they will ever own a home.
On average only 43.3% of renters expect to own a home at some point in the future, down sharply from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on Monday.
High prices appear to be a driving factor: Twenty-two percent of households in the survey report they planned to buy a home but now view renting as a better financial decision. Most respondents either prefer to rent (36%) or said they were waiting for prices to come down before buying (42%).
Read more at CNN.com
