Some new statistical work by the NAHB has brought some life to one of the more known truisms about homeownership.
It’s one of those details about real estate that everybody knows – younger people tend to rent, while older people (especially married couples and families) tend to own.
How do the numbers, though, specifically break down along the various age groups? And at what age does consumer preference tilt from renting to owning?
To find out, we took a look at some very interesting data from the NAHB, which broke down the basic characteristics of renters and owners. See what we found out in our graph below: