(CNBC) — As finances and bad credit prevents homeownership for many, a single-family home may soon be considered a luxury item.
Almost half of those people who don't own a home said their financial situation is standing in the way, according to a report by Bankrate.com released Tuesday. Additionally, 29 percent said they can't afford a down payment and 16 percent said their credit isn't good enough to qualify for a mortgage.
Slightly more than one-third, or 35 percent, of those on the sidelines said they don't own a home, because they simply don't want to.
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