In the latest survey from Lending Tree they found that 29% of Americans say they’d be open to co-buying a home with someone other than their spouse or significant other.
- 36% of Non-homeowners fear they'll never be able to buy on their own.
- 29% of Americans say they’d be open to co-buying a home with someone. 63% say they’d consider doing so with a family member who wasn’t their spouse and 57% say they’d consider buying with a good friend or current roommate.
- Nearly two-thirds of parents say they’d consider co-buying a home with their child. Millennial parents are the most receptive to the idea at 76%, compared with 53% of baby boomers.
- 64% of non-homeowners say they think they’ll be able to afford a home without a co-buyer one day. Gen Z is the most optimistic generation at 76%, while baby boomers have the bleakest outlook at 43%.
- Of those who think they’ll be able to buy in the future, 45% say down payment requirements are currently holding them back, while 38% say home prices are too high in their respective areas.
- You can check out our full report here: https://www.lendingtree.com/home/cities-with-the-largest-share-of-million-dollar-homes/
LendingTree's Senior Economist and report author, Jacob Channel, had this to say:
"Even if they'd rather buy, people should keep in mind that there's nothing wrong with being a renter. Remember that it's better to be a renter who can keep their head above water financially, than it is to be a homeowner who is drowning in debt. Similarly, being a renter is likely going to be better than being a homeowner with a co-buyer who is less than dependable and who might force you to pay their share of the bills."