Americans Still Want to Own a Home
More than 72 percent of American adults say that home ownership is a part of their personal American dream, down from 77 percent six months ago, according to a survey for Trulia.com.
About 23 percent said their attitude toward homeownership has grown more positive in the last six months, while 19 percent say they feel more negatively.
Among those adults who are renting a home, 27 percent say they never intend to buy. Of the renters who do plan to purchase eventually, 68 percent said it would be more than two years before they do.
The factors that would encourage them to buy now are:
• Able to save a down payment, 47 percent
• Land a new job, 28 percent
• Interest rates stay low or fall lower, 27 percent
• Some other factor that persuades them that buying makes financial sense, 24 percent
• Get a raise, 23 percent
• Local real estate market stabilizes, 9 percent
Source: Trulia.com (08/18/2010)
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Survey: Americans Prefer Owning Over Renting
Despite the challenges facing the housing market, 65 percent of Americans would still prefer to own a home rather than rent, according to a Fannie Mae national housing survey.
In addition, 43 percent of respondents cite safety as a key reason to buy, while 33 percent are motivated to buy because they perceive schools to be better in neighborhoods where most homes are owned by their residents.
The survey results released Tuesday show that both buyers and renters are more cautious than they used to be. About 23 percent of renters say they will buy a home, but later than they once hoped.
A full 70 percent said they believe buying a home continues to be one of the safest investments available. This compares to 74 percent who think putting money into a bank account is safe. Only 17 percent believe buying stocks is a safe investment.
Also, 60 percent believe that it will be harder for them to get a mortgage to purchase a home than it was for their parents.
Source: Fannie Mae National Housing Survey (04/06/2010)
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