Renters Warm to Homeownership, Despite Affordability Concerns

Renters are staunchly in favor of homeownership, and, though they have concerns about their ability to afford a home, more now believe it is easier to qualify for a mortgage.
According to the latest SCE Housing Survey, part of the Survey of Consumer Expectations (SCE) by the Federal Reserve Bank of New York, 72.3 percent of renters “prefer” or “strongly prefer” to own a home rather than rent one, and 55.9 percent view homeownership as “a good investment”&mdash