Looking across the vast spectrum of housing surveys today, most will claim that the majority of renters want to buy a home eventually. That may be, but they're not saving to do that.
In fact, saving for a down payment to buy a house ranks fourth on their list of priorities, according to a survey conducted in October by Harris Poll for Freddie Mac, which helps fund loans to homeowners and apartment developers.
When asked about their savings priorities, more renters said they consider saving for emergencies (59 percent), retirement (51 percent) and children's education (50 percent) an "essential/high priority." Only 39 percent said saving for a down payment. This is particularly surprising given fast-rising rents.