Housing Crisis Didn’t Shake Most Americans’ Confidence

In the aftermath of the housing crisis, Americans still remain overall optimistic when it comes to confidence in the housing market. Home ownership remains a highly desirable goal for most Americans, according to the latest Country Financial Security Index survey. Eighty-nine percent of about 1,000 Americans surveyed say buying a home is an important part of achieving the American Dream.

Home Ownership Today:

Those surveyed also view home ownership as a more attainable goal than they have in previous years. Sixty-four percent say they believe owning a home is an attainable goal for a typical middle-income family, according to the index. In 2013, that percentage stood at just 41 percent.

The biggest obstacles identified in the survey by those who don’t yet own were centered around financial limitations, mainly a low credit score, lack of down payment, and the price of homes in the area.

Still, “we’re very encouraged that so many Americans feel optimistic about home ownership and view it as a realistic and achievable goal,” says Joe Buhrmann, manager of financial security support at Country Financial. “This is a dramatic increase from last year, when less than half felt like home ownership was attainable for a middle-income family. An improving economy and labor market might be helping to lift Americans’ spirits and place buying a home closer within reach.”

Despite the temporary housing crisis, Home-ownership historically proves to be the best investment decision a family can make.

index

%d bloggers like this: