A recent survey reported on RISMedia shows that consumers still see home ownership as essential to the American Dream. According to the survey, Americans see beyond the housing crisis to the “enduring value of homeownership.” I agree and have written several posts that support the findings.
Homeownership is about much more than the costs or investment potential of real estate. And while we have recently seen a decline in the rate of homeownership, almost three-quarters of those surveyed who do not presently own, indicated a goal of one day owning a home.
Because of the financial crisis and the collapse of the housing market, many in the media continue to malign the concept of homeownership, with some offering dire predictions for the future of housing. But it’s not that ownership has become less desirable, it’s that the single-minded vision of homebuying as an investment strategy certain to increase one’s wealth has faded into the shadows where it always belonged.
Not all Americans desire to own their homes, and for many, lifestyle options make ownership a poor choice; but it seems that the majority of consumers still see home ownership as essential to the American Dream. And though the process of ownership is currently being reexamined, it’s far from becoming an impossible dream; most see it as a goal worthy of pursuit.
For more information see: Should Anyone Buy a Home in Today’s Market?
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