New York Fed survey: Households expect home prices to rise 7% in year head

A New York Fed survey on housing shows:

• Households expect home prices to rise at 7% in the year ahead and 2.2% on average annually for the next five years
• Renters see chance of ever owning a home fall to 43.3%. That is the lowest since the survey began in 2014. In 2021 the rate was 51.6%
• Households expect rents to rise 11.5% in the year ahead and 5.2% on average annually for the next five years

The data highlights the disparity between homeowners and renters.