Homeownership is Still a Huge Part of the “American Dream”

By
Real Estate Agent with LUXE Estates & Lifestyles NV Lic #S.70381

There have been some who have voiced doubt as to whether or not the younger generations still consider buying a home as being part of the “American Dream”. A study by Merrill Lynch puts that doubt to rest.

 

According to their research, every living generation still maintains that owning a home is in fact important. Here are the numbers:

American Dream STM

This should not surprise us as many studies have revealed the benefits enjoyed by the families who own their own home. One such study was done by the Joint Center of Housing Studies at Harvard University that addressed a major financial benefit to owning your own home: forced savings. The report explains:

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The Merrill Lynch study proves this point with the following data on home equity (a form of savings):

Average Home Equity

Bottom Line

There are many reasons that owning a home makes sense. The financial reasons are powerful. As one participant in the Merrill Lynch study put it:

“When I was younger, I always worried about that monthly mortgage payment. Now that I am retired, I have the peace of mind of knowing I own my home free and clear.”

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Kristine Dugan    REALTOR® | Certified Residential Specialist    
Luxe Estates & Lifestyles    Keller Williams Coastal Estates    
m. 702.332.7781   | NV DRE 70381  CalBRE 01958282  
e. info@KristineDugan.com   | w. www.KristineDugan.com      
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Rainmaker
3,584,435
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I have the same KCM blog content....good information ~

Nov 02, 2015 11:11 PM #1
Rainmaker
680,255
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

I had a handful of young first-time home buyers this year. They are of the age that everyone says doesn't care about homeownership. I've seen quite the opposite of what the pundits have been spouting off about the millennial generation. 

Nov 02, 2015 11:22 PM #2
Rainmaker
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Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

Loved your blog today, hope this becomes a eventful & successful start of the week.

Nov 10, 2015 01:32 PM #3
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