Poll shows homeownership still American dream
Sep 23rd, 2011 | By Bea Weiss, Real Estate Consultant, Attorney | Category: Real EstateA recent survey by Trulia.com indicates that 70 percent of more than 2,200 adults polled continue to view homeownership as part of the American dream, with 59 percent of renters hoping to own a home and 80 percent of homeowners planning to make another property purchase.
Fifty-seven percent of homeowners said homeownership was a strong long-term investment.
Despite having a low homeownership rate, 65 percent of respondents between the ages of 18 and 34 said homeownership is part of their American dream; but many have had to delay home purchases to remain at or move back home with their parents.
Fifty-one percent of survey participants said saving for a downpayment is their biggest obstacle to homeownership, while 36 percent pointed to qualifying for a mortgage, 34 percent singled out poor credit, 31 percent cited existing debt, and 13 percent said falling home prices stood in their way.
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