As rent costs increase, many are looking to buy as an option to control their monthly costs. But so far, the numbers show that renters aren't moving into home ownership at high rates.
According to a study from John Burns Real Estate Consulting, 14.6 percent of renters transitioned to home ownership in the fourth quarter of 2014, down from 25 percent ten years earlier, in 2004.
Tough underwriting standards may be to blame, but as Fannie Mae has begun to become more flexible on down payment requirements, that overall percentage may start to rise again.
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