Jun
08

Homeownership Still an Essential Part of the Puzzle

June 08, 2011

Despite the rough state of the economy, owning a home continues to be a top priority when attempting to achieve the American Dream.

This is the opinion of homeowners and non-owners that took part in a survey conducted on behalf of the National Association of Home Builders (NAHB).

a family celebrating outside their new home“The survey results show that Americans see beyond the immediate housing market to the enduring value of homeownership,” said NAHB Chairman Bob Nielsen. “An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market, and 95 percent of the homeowners said they are happy with their decision to own a home.”

The survey, conducted by Public Opinion Strategies of Alexandria, Va., and Lake Research Partners of Washington, D.C., questioned 2,000 people who are likely to vote in 2012.

“Homeownership is worth the risk, pure and simple,” said Neil Newhouse, a partner and co-founder of Public Opinion Strategies.

“Even though the market is weak, people who don’t own say they want to buy a house. Almost three-quarters of those who do not currently own a home, 73 percent, said owning a home is one of their goals. And among younger voters who are most likely to be in the market for a home in the next few years, the percentages are even higher.”

Other survey results:

*Homeownership and a retirement savings account are considered by voters to be the best investments.

*80 percent of homeowners would advise a close friend or family member just starting out to buy a home.

*The biggest barrier to homeownership is saving for the downpayment and closing costs.

*Americans believe that owning their own home is as important as being successful at their job or being able to pay for a family member’s education.

“People believe overwhelmingly that owning a home is an anchor to the American Dream,” said Celinda Lake, president of Lake Research Partners.

“Owning a home isn’t just a policy to people. It isn’t just a commodity to people. It is a core value.”

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