Question of the day: What are the top three reasons why people decide to rent (instead of buy) a house?

Answer:

The main reasons why people rent:

1. Cannot pay deposit
2. More convenient or flexible
3. Cannot pay the monthly mortgage payments

To ask:

• In summary, what is the most important overall reason why people decide to rent?
• What factors can make someone more likely to decide to rent instead of buying?
• At what age do you think you would be ready to buy a house, if at all? Why?

Here you will find the ready-made slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Federal Reserve):

Renters often cited multiple reasons for renting their home. Similar to the reasons reported in recent years, financial constraints in 2024 led many adults to rent rather than own their homes. The most commonly cited reason for renting was the inability to make a down payment. Just over two-thirds of renters cited this as a reason. Forty-two percent of renters said they rent because they do not qualify for a mortgage, and 49 percent said they rent because they cannot make the monthly mortgage payment can’t pay.”

About the author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She graduated from Cornell University with a degree in policy analysis and management and received a master’s degree in education from Brooklyn College. Kathryn looks forward to bringing her passion for accessibility and educational justice to curriculum design at NGPF. In her free time, Kathryn enjoys tackling cooking projects, walking her dog around the Seattle neighborhood, or lounging in a hammock with a book.

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