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American Renters and Financial Fragility

American Renters and Financial Fragility

With data from the FINRA Investor Education Foundation’s 2012 National
Financial Capability Study (NFCS), this issue brief compares the demographic,
behavioral and psychographic profiles of renters to those of homeowners.
The data reveal a financially fragile renter population relative to homeowners.
It is a group burdened by debt, lacking emergency savings and exhibiting low
levels of financial literacy. Renters are also more likely to experience income
shocks. Given their financial fragility and low levels of financial literacy, the
findings suggest the renter population could have a difficult time responding
to income shocks and the financial consequences associated with them.

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