Homeownership: “The Reports of My Death Have Been Greatly Exaggerated”The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last,
Dreaming Of The American Dream
Americans continue to believe that homeownership is important in achieving the American Dream. A recent survey by NeighborWorks America reported that:
“Owning a home remains a core element of the American Dream.”
When asked “How important a part of the American dream is owning a home?”
18% of those surveyed said it was the most important part
53% of those surveyed said it was very important
22% of those surveyed said it was somewhat important
Homeownership and Financial Stability
The survey also revealed that 81% of Americans believe that owning a home leads to a family being more financially stable. This feeling was reiterated by Zillow Senior Economist Aaron Terrazas who, in a recent press release, explained:
“After about a two-year slowdown, rent growth is starting to pick back up across the nation…Looking into 2018, rent is expected to continue gaining.
More widespread rent growth could mean home buying demands stay high, as renters who can afford it move away from the unpredictability of rising rents toward therelative stability of a monthly mortgage payment instead.” (emphasis added)
Owning a home always has been, and always will be, a crucial part of attaining the American Dream.
Michael has been a Real Estate Broker in the Denver area for 17 years. With over hundreds of closed transactions under his belt he is a wealth of knowledge. Michael is skilled at contract negotiatio....