Americans Still View Homeownership as the American Dream

Americans Still View Homeownership as the American Dream

The American Dream means different things to different people. But for  many people, it's a sign of freedom, success, and wealth. These are all benefits that property ownership can provide.

In a recent study, Bankrate inquired as to what people consider to be the pinnacle of the American Dream. Based on the comments, it's clear that home ownership is still highly valued by many Americans.

As the graph illustrates, homeownership is more important than retirement, having a good career, and receiving a college degree.

A recent MYND report sheds light on why so many Americans value homeownership. It discovered:

“. . . nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”

This is due to the fact that when you own a property, your equity (and net worth) increases over time as you pay down your mortgage and home prices rise. This can be a significant factor in establishing intergenerational wealth and long-term financial security.

Fannie Mae's report emphasizes the life-changing benefits of homeownership and says:

“Most consumers (87%) believe owning a home is important to ‘live the good life.’ . . . Notably, significantly more see ‘having less stress’ as a benefit achieved by owning than renting.”

When you own a property with a fixed-rate mortgage, you stabilize what is likely your largest monthly expense (your housing cost), thereby mitigating the effects of inflation-driven price increases.

How does this affect you?

With higher mortgage rates and home prices, it may feel difficult to purchase a home in the current market. However, if the time is perfect for you to purchase a home, know that incredible benefits await you at the end of your journey.

Bottom Line

Buying a property is a significant and powerful decision that represents the cornerstone of the American Dream. If you intend to become a homeowner this year, let's get in touch to begin the process.

Are you ready to buy a home today, in 6 months, or perhaps sometime next year? 

Then call/Text (920) 209-1079 to start your journey!

~ Steven Vertz - Wizards of Real Estate

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