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Is Homeownership Still the American Dream?

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Real Estate Agent with Smart Way America Realty AB067859

Is Homeownership Still the American Dream?

Is Homeownership Still the American Dream? | MyKCM

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. That’s 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):

Is Homeownership Still the American Dream? | MyKCM

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, let’s connect and start the process today.

Courtesy: KCM

Posted by

Your Trusted Pro in the Poconos, Professional Results You Expect 

Kris Collis, Associate Broker

Smart Way America Realty

East Stroudsburg, PA 18301

Client Endorsements

570-801-5525

buysellpocono@gmail.com

Comments(5)

Show All Comments Sort:
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I don’t even know myself if that’s the case but each person can find their own wa

Jul 16, 2022 11:52 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jul 17, 2022 03:57 AM
Ray Henson
Retired - Goodyear, AZ
Retired Real Estate Agent

I think home ownership is still part of the American Dream.  There is nothing like the feeling of sending in that last mortgage payment....FREEDOM!

Jul 17, 2022 07:41 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kris and Thank You for sharing this great information with us here in the Rain.  Make it a great week!

 

Jul 17, 2022 08:19 AM
Patricia Feager, ABR,CRS,GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hi Kris Collis, Associate Broker - Homeownership takes work, but the payoff is worth it!!! Your posts are always spot on and inspirational. 

Jul 27, 2022 03:54 AM