Home Ownership is Still Part of the American Dream

January 28, 2012

chicagoland real estateThe results of the 2012 National Voter Poll on Homeownership by the National Association of Home Builders (NAHB) are in, and  they show that  voters still believe in the American Dream of homeownership.

According to Bob Nielson, president of the NAHB, “ Even in a down housing market, homeownership remains a core American value, with the vast majority of Americans who do not currently own a home saying they want to buy a home.”  Both renters and homeowners understand the benefits of tax incentives that are available to homeowners.  These sentiments are universal regardless of political party.  Of particular interest are the poll numbers reflecting that seven out of 10  voters who currently do not own homes, say that this a future goal of theirs.

In Chicagoland, opportunities abound for buyers searching for Chicago new homes and their special slice  of the American Dream.  With a multitude of new homes on the market for sale, buyers can capitalize on incentives from new home builders, as well as low interest rates.

Among the poll’s other key findings:

  • 96 percent of home owners are happy with their decision to own and 84 percent who are “underwater,” or owe more on their mortgages than their home is worth, expressed the same sentiment.
  • 79 percent of home owners would advise a family member or close friend just starting out to buy a home, and 69 percent of those who are underwater on their mortgage would offer the same advice.
  • 74 percent said that despite the ups and downs in the housing market, owning a home is the best long-term investment they can make.
  • Homeownership and a retirement savings program are considered by voters to be their best long-term investments.
  • 78 percent of respondents said that owning their own home is very important to them.
  • Job uncertainty and saving for a downpayment and closing costs are the biggest barriers to buying a home.

The survey findings are consistent with the results of other public opinion surveys. In a New York Times/CBS News poll conducted in June, 89 percent said that homeownership is an important part of the American Dream and more than 90 percent indicated that it is important for the federal government to continue the mortgage interest deduction.

Poll results can be downloaded at www.nahb.org/homeownershippoll.

Categories: Economy

About The Author

Read All Stories By Carol Morgan

Carol Flammer is a public relations and social media marketing expert, strategist and consultant. With 20 years of experience, Carol has established herself as the “go to” for real estate and construction products public relations and social media. Carol is president of Flammer Relations, Inc., and managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Atlanta and Chicago.

Leave a Comment