Most Renters Blame Downpayment Woes for Not Becoming Homeowners
National Mortgage Professional, Apr. 12, 2017–Phil Hall
According to a new Zillow survey, nearly half of renters said debt and qualifying for a mortgage were their main obstacles for moving to homeownership, while nearly 40 percent cited job security as keeping them from buying a home. But saving for a downpayment was particularly difficult in some of the most expensive rental markets, most notably California’s San Jose, San Diego and Los Angeles metro areas.
