In answer to the question, "Is owning a home still the American dream?" a survey of 2,000 voters from May 3 to 9, by the National Association of Home Builders, said the answer is a resounding "yes." Despite the housing crisis, the ups and downs of the market and the decline in home values, owning a home is still very much part of the American dream. Here are some interesting facts uncovered by the survey.
Even in this weakened housing market, Americans who do not currently own a home, especially those under the age of 50, overwhelmingly say they want to buy a home.
Americans consider their home their single most important investment.
Americans believe that even with the ups and downs of the housing market, home ownership is worth the risk. That sentiment is also strong among renters and among homeowners who currently owe more on their mortgage than their home is worth.
Americans believe that owning a home is as important as being successful at their job or being able to pay for a family member’s education.
Home ownership and a retirement savings program are considered by voters to be their best investments.
Almost every homeowner is happy with his or her decision to own a home.
Eighty percent of homeowners would advise a close friend or family member just starting out to buy a home. This is true even among those homeowners who are “underwater” on their mortgages.
Nearly three-quarters of voters who do not currently own a home say that it is their goal to buy one eventually.
Younger voters, those most likely to be in the market for a home in the next few years, say that buying a home is one of their goals.
The biggest barrier for those who want to own a home is finding money for a down payment and closing costs.
And lastly, all age groups agree in the value of owning a home.
You can view slides on the poll here.