One thing that's clear from the 2010 NAR-Harris poll: Young adults are just as committed to becoming home owners as their parents and grandparents before them.
Of the 798 young adults (ages 18-29) who participated in the poll, about three in four say owning a home provides a healthy, stable environment for raising a family, and more than two-thirds say owning contributes to their long-term financial goals. More than eight in 10 said that over a period of several years, it makes more sense to own a home.
At the same time, young adults believe it has become more difficult to achieve the American dream. 71% say it is more or much more difficult than it was for their parents' generation. And 72% predict it will be even harder for the next generation.
This difficulty would almost certainly be exacerbated by the elimination or reduction of incentives such as the mortgage interest deduction. The MID has been with us since the early part of the 20th century and is deeply embedded in the economics of our housing industry.
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