Homeownership is still the American Dream…

It’s almost impossible turn on the television, open the newspaper or listen to the radio and not see or hear someone making negative comments about the current state of our economy and the real estate market. How Bad off are we? Have we lost confidence in real estate? Is Homeownership still the American Dream?

According to recent polls it appears the American Dream of owning a home is still very much alive.

  • 95% of homeowners see it as a positive experience.
  • 88% see homeownership as the American Dream.
  • 81% still see it as the best long-term investment.
  • 69% think now is the time to buy.

Of course some of you will read this and think “Just another Realtor” putting a positive spin on the market, but keep a few factors in mind.

  1. Near Historic Low Interest Rates! We haven’t seen rates this low in over 50 years. In most cases, people can get a lower interest rate on a home mortgage than an auto loan.
  2. Second, is Affordability! We are seeing a trend in our market and across the country where it’s actually cheaper (monthly payment) to own a home than rent one. Rental markets are hot right now and there seems to be no signs of slowing down in the near future. More and more investors are realizing this (myself included) and have purchased investment property.
  3. Inventory and Pricing! There are a lot of homes to choose from. Builders are getting creative with incentives, Sellers are much easier to negotiate with and short sales and bank owned properties can be incredible buys.

Whether your currently pursuing the American Dream of purchasing a home or thinking about it in the future, make sure you seek the help of a REALTOR. Buying a home is one of the biggest financial investments most people experience in their lifetime and it should always be handled by a professional.

Sources for this blog– Fannie Mae’s National Housing Survey 2011, New York Times & CBS News Survey 2011, Pew Research Center Survey 2011 & Gallup Poll 2011.

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