With a decrease in real estate appreciation, an increase in foreclosed property and stricter lending standards, is homeownership still part of the American Dream?
There is no question that the dreamof homeownership has been challenged over the past few years. In fact many housing experts have predicted thatthe belief of homeownership as part of the American Dream has died.
However, there is some new evidence available that supports the belief that the experts may be wrong.
A new report recently released by Fannie Mae, called the National Housing Survey, supports the fact that the long term benefits of homeownership are still alive and well.
Fannie Mae asked questions about the value of homeownership to many groups of homeowners. The report also surveyed the most sensitive group of homeowners, those who were delinquent on their mortgages.
The completed study found conclusive evidence that a definite desire for homeownership is rising above the recent housing crisis.
Based on the report, the percentage of groups that see home ownership as better than:
- renting as an investment plan: 80%
- renting to build wealth: 74%
- renting for financial stability: 73%
- renting for retirement savings: 71%
- renting for a tax strategy: 70%
The American Dream is alive and well and for many Americans, homeownership is still the cornerstone in the foundation of that dream. Click Here to qualify for the purchase of a home call 800-818-2946.
