Livin the Dream in Lancaster Co., PA !!!

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Real Estate Agent with KW Elite
https://activerain.com/droplet/576Q

Report: Homeownership Is a Precondition of the American Dream

Report: Homeownership Is a Precondition of the American Dream | MyKCM

Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials–agree homeownership is very important to achieving the American Dream.

Americans ranked “owning a home I love” higher than any other options (including “starting a family” and “finding a fulfilling career”) as an important part of the American Dream.

Despite some claims that homeownership’s importance to the American Dream is in decline, the report found that the dream of homeownership remains strong.

Of Americans who said they think achieving the American Dream is important, 70% think homeownership is important to the dream, and 41% think homeownership is very important to the dream.

What about Millennials?

Hearth addresses the desires of millennials by explaining:

“Contrary to popular opinion, millennials who want to achieve the American Dream are 5% more likely than Baby Boomers to think homeownership is important. And two-thirds of millennial renters view homeownership as important to the American Dream.

Although millennials are often portrayed as fickle and transient, they actually seek the stability of homeownership even more than their parents.”

Other Key Findings from the Report:

  • Homeowners are 126% more likely than non-homeowners to view homeownership as a way to build wealth. Nevertheless, homeowners still overwhelmingly associated homeownership with a family living space.
  • Homeowners are 24% more likely than non-homeowners to see homeownership as an achievement that reflects hard work.
  • Millennials are 77% more likely than baby boomers to see a home primarily as a way to build wealth.
  • Baby boomers are 98% more likely than millennials to see a home as a way to pass wealth down to children or family.
  • Millennials are 29% more likely than baby boomers to see a home as an achievement that reflects hard work–an outcome we expected given that many millennials are still working hard to afford their first homes.

Bottom Line

The report concluded:

“This survey revealed a powerful finding: Across demographic groups, homeownership remains a precondition of the American Dream.”

 

Buyers , rates have just come down !  Your first step is obtaining Pre- Approval . Email mikeperrykw@gmail.com to begin !

 
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Rainmaker
1,762,590
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

this is very important to share with our sellers and buyers alike. Thanks for the information

Sep 14, 2017 05:05 AM #1
Rainmaker
3,445,148
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Michael. Home ownership continues to be the American Dream as many baby boomers sell and are now renting! Enjoy your day!

Sep 14, 2017 05:07 AM #2
Rainer
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Laura T. Perry
Keller Williams Elite - Lancaster, PA
CRP, GMS, Award Winning Relocation Specialist

Consumers must finish their vocation career , owning a Free & Clear house !

Mar 16, 2018 07:21 AM #3
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Rainmaker
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Michael J. Perry

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