Decline in Renters' Mobility Linked to Housing Affordability Challenges
A recent analysis by the Federal Reserve Bank of New York highlights a significant decline in the expected mobility of renters in the United States. The study, based on data from the New York Fed's Survey of Consumer Expectations Housing Survey, reveals that the probability of renters moving to a different primary residence within three years has dropped from 57% in 2014 to 37% in 2026. This decline is attributed to growing challenges in homeownership, with renters perceiving mortgages as increasingly unaffordable. The survey indicates that renters' expectations of ever owning a home have also decreased, with the probability falling from 52% in 2015 to 35% by 2025. The study suggests that affordability issues, such as higher mortgage rates and home prices, are significant factors influencing these trends. 
