Few non-homeowners expect to buy a home within the next five years, according to a poll released Wednesday.
In the new Gallup poll, 25 percent of non-homeowners said they believe they “will buy a home” within five years. Five percent said the same about purchasing a home within a year, 23 percent said the same about purchasing a home within 10 years, and 45 percent said they didn’t think homeownership was coming anytime soon. Two percent had “no opinion.”
The first few months of President Trump’s second term has featured rising consumer concerns over the economy due to the president’s tariff policy. His aggressive tariff agenda has also rattled markets across the globe and strained relationships with longtime allies like Canada and the European Union.
Since the start of Trump’s second term, the issue of housing has seemingly taken a backseat for the administration to other issues, including foreign policy and the border. Some of the president’s actions on the two issue areas — such as levying tariffs and increasing deportations — have threatened to result in higher costs and obstacles for homeownership for Americans.
The Gallup poll also found that 57 percent of respondents said they believe the price of houses near them will increase in the next year. In the poll, 28 percent said they believe the average price of houses is going to “stay the same,” and 13 percent said it is going to decrease.
The Gallup poll took place April 1-14, featuring 1,006 people. The margin of error was plus or minus 4 percentage points. There were 272 non-homeowners surveyed, and the margin of sampling error for that group is plus or minus 8 percentage points.
