Or is Pulte just pushing a load of crap? From the WSJ:
A survey from PulteGroup — one of the nation’s largest home builders — has found a surprising result: Many renters want to buy homes.
Given the source, some caution is in order. Still, this comes as many builders and real-estate agents say the previously moribund housing market is reviving. In some markets, bidding wars – not seen since the housing market crashed – have returned. Rising rents may also be pushing people to consider buying, particularly given low home prices and mortgage rates.
Pulte’s survey found that, among renters who plan to purchase a home in the future, 60% have “increased their intent” to do so from a year ago, meaning they are inclined to hop off the sidelines. Half of those surveyed apparently “like being able to call themselves homeowners,” while 44% “view it as a good financial investment.” (That figure seems a bit high since home values are down by a third or more from the peak.)
More believable are the survey’s findings on why people aren’t buying: More than half think they don’t have enough money for a down payment, while nearly 30% believe renting is cheaper than buying. More than 20% cite uncertainty with employment status as a deterrent to buying a home.