Why Millennial Renters Want to Own But Can’t

Nine out of 10 millennial renters say they want to purchase a home, but few are planning to do so in the near term, according to a new survey by rental website Apartment List. The chief reasons keeping them from homeownership are affordability (72 percent) and lack of savings for a down payment (62 percent), the survey of 6,400 young adult renters shows. Nearly 50 percent of respondents say they have zero savings, while only 11 percent have saved $10,000 or more.