A recent survey conducted by Trulia.com, on American attitudes towards homeownership, showed conclusively that we still feel homeownership is part of the American Dream. “Contrary to popular belief, the American Dream of homeownership has not turned into an American nightmare," said Pete Flint, CEO of Trulia.
Conducted by Harris Interactive, the survey of 2,079 adults 18 and over, found 70% view homeownership as part of their own American Dream, and 78% feel their homes are the best investment they ever made.
Although many of today’s young adults came of age during the recent housing crash, 26% say their views on owning a home have become more positive over the past six months. 88% of 18-34 year old renters aspire to be homeowners, making this new generation of buyers crucial role in the stabilization of today’s real estate market. While these buyers are in no hurry to purchase. 70% of renters in the Western region plan to buy a home eventually.
“During the housing bubble, the American Dream of homeownership was beyond reach for many young adults. Stuck with student loans and entry-level jobs, many had resigned themselves to being lifelong renters. But the tide is changing—Millennials are now today’s most serious home buyers,” said Tara-Nicholle Nelson, Consumer Educator for Trulia. “Unjaded and largely untouched by the effects of the housing crash, this new generation of buyers will no doubt lead America from its current housing slump towards true recovery.”
In our Hawaii Kai real estate market, there are million dollar estates and affordable condos. Call or email me and let's talk about options for making your American Dream of Homeownership come true.
Barbara Abe, Realtor