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Is Homeownership Still the American Dream?

By
Real Estate Agent with HomeSmart 0561240

Is Homeownership Still the American Dream?

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about success, freedom, and a sense of prosperity are universal. Thats why, for many people, homeownership remains a key part of the American dream. Your home is your stake in the community, a strong financial investment, and an achievement to be proud of.

A recent survey from Bankrate asked respondents to rank achievements as indicators of financial success, and the responses prove that owning a home is still important to so many Americans today (see graph below):

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As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.

That could be because owning a home is a significant wealth-building tool and provides meaningful financial stability. The National Association of Realtors (NAR) explains:

Homeownership builds financial security. With 65.5% of Americans owning homes, the net worth of a typical homeowner is nearly 40 times the net worth of a non-owner.

There are other ways your home acts as more than just a roof over your head, too. The Mortgage Reports highlights a few of the many benefits homeowners enjoy, including:

Plus, homeowners tend to be more active in their community. Like NAR says:

Living in one place for a longer amount of time creates and [sic] obvious sense of community pride, which may lead to more investment in said community.

What Does That Mean for You?

If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you achieve that dream. When you set out to buy, know there are incredible benefits waiting for you at the end of your journey. You'll have a place you can call your own, feel most comfortable, and grow your wealth.

First American puts it best, saying:

Homeownership remains central to the pursuit of the American Dream. It is a critical driver of economic mobility, delivering financial and social advantages. . . .

Bottom Line

Buying a home is a powerful decision and a key part of the American Dream. And if homeownership is part of your personal dreams this year, lets connect and start the process today.

 

 

 

 

Posted by

e signature for Shayne Stone

“YOUR Rock-Solid Choice Realtor for Making Home Sellers a Profit & Home Buyers Equity”

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Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Shayne. As the biggest piggy bank the average person will ever have, home ownership should be number one. Enjoy your day.

Jul 15, 2022 05:45 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for sharing the information. Buyers and sellers in your area will benefit from your expertise. Wishing you continued success.  Have a wonderful day and sell a house.  bill

Jul 15, 2022 06:29 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Great Morning. Like to comment on your blog. Have a great July and year...This girl has a strange thing on her head. French Quarter photo...

Jul 15, 2022 06:29 AM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

I think it is. But its slipping away slowly for many!!!

A recent survey from Bankrate asked respondents to rank achievements as indicators of financial success, and the responses prove that owning a home is still important to so many Americans today

Jul 15, 2022 06:51 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

Yes I agree home ownership is a wealth builder for educated buyers. And as real estate agents that is where we come in to help educate these buyers.

Jul 15, 2022 06:57 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Congratulations on your new listing.  Nice house and nice job with your presentation.

Jul 16, 2022 03:08 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I do believe the American Dream is alive and well.  There is nothing better than the feeling you get when you make your last mortgage payment.

Jul 16, 2022 09:11 AM