Owning a Home Essential to the American Dream, Survey Shows
RISMedia, June 10, 2011—Despite the ups and downs of the housing market, home owners and non-owners alike consider owning a home essential to the American Dream.That’s the key finding of a recent survey of people likely to vote in 2012 that was conducted on behalf of the National Association of Home Builders (NAHB) by Public Opinion Strategies of Alexandria, Va., and Lake Research Partners of Washington, D.C.
“The survey results show that Americans see beyond the immediate housing market to the enduring value of homeownership,” says NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “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 home owners said they are happy with their decision to own a home,” Nielsen says.
“Homeownership is worth the risk, pure and simple,” says 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,” Newhouse says.
One of the more striking aspects of the survey results is the intensity of sentiment among potential voters, according to Celinda Lake, president of Lake Research Partners. “People believe overwhelmingly that owning a home is an anchor to the American Dream,” she says. “It’s an anchor to your retirement, and it’s an anchor to your personal economic well-being.”
When is the time to Buy?
When everyone wants to sell, When the interest rates are favorable, When there is a good selection available....of course the buyer has to be ready, qualified, and able to put down a good down payment. Rates are around three (3) percent and prices are about fifty (50) percent of what they sold for in 2005. This may never happen again.
What about buying an investment:
The time is even better...two years ago over 60 percent of the people owned a home. Now they tell us that over 50 percent of the people are tenants. People losing their homes in foreclosure are becoming tenants.
My recomendation:
If you have money to invest, real estate is one of the safest places to put your money given the current economic conditions. The Federal Government is doing every thing it can to keep the economy stable, however they are running out of options. As business turns around interest rates are going to go up, cost are going to go up and we will have to adjust to high inflation...it coming. Residential income property is a good choice.
William S. Wilkinson, P.A., Realtor
wswilkinson@remax.net
Article from: RREIN@RISMedia.com
