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Nearly Half of Renters Reconsider Buying a Home Because of COVID-19

56% of respondents said they still planned to buy a home in the next five years, suggesting the long-term optimism of renters hasn’t been completely crushed.

A recent survey shows the COVID-19 pandemic is having a profound impact on significant financial decisions for many Americans, namely buying a home.

According to the survey conducted by RENTCafe.com, 43% of the respondents said the pandemic had forced them to reconsider their housing plans. “Economic uncertainty,” and “loss of income” were cited as the top two drivers in changing the thinking of the respondent renters.

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Hank Grezlak

Hank Grezlak

Hank Grezlak is the editor-in-chief for ALM's legal theme desks and regional publications and oversees Law.com, and has been covering courts and law firms since 1993. He has won numerous awards for his journalism, including several for investigative reporting, columns, and enterprise reporting. In 2016 he was awarded the G.D. Crain, Jr. Award for Distinguished Editorial Career.

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