Consumers Still See Home Ownership as Essential to the American Dream
Though I know there have been some articles written about how the "American Dream" is dead and that people non longer consider owning a home important I do feel that this isn't every ones train of thought. after all people have to have a place to live and I know no one wants to rent their entirelife. Do they? John's post illustrates that no matter what the market is and has gone through one of the keys to financial security in life is real estate. After all can anyone name any other product, that even if you use it but as long as you maintain it, is worth more than when you bought it?
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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