Most Still believe in the worth of Home Ownership

An earlier released Fannie Mae National Housing Survey for the third quarter of 2011 showed Americans still value home ownership, but for varying reasons.  They survey asked questions concerning today’s housing market.

Principal Reasons in Buying a Home

The surveyed showed four key reasons people buy homes:

~ Having a good place to raise children and provide them with a good education

~ Having a physical structure where you and your family feel safe

~ Allows more space for your family

~ Gives control of what you may do with living space (e.g., renovations)

As an Investment

Though many people buy a home for non-financial reasons, everyone realizes there is a financial element to owning a home:

~ 64% believe that homeownership is still a safe investment.                     

~ 55% believe it has more potential as an investment than traditional assets.

~68% believe now is a good time to buy.

Owning versus Renting

~ Most renters have hopes to someday own a home

~ 2/3’s of renters think that owning is better than renting

~ A large majority of homeowners see ownership as a great experience  

In the end

Even in these difficult times, most people still realize the worth of homeownership,  from a financial, famlial, and social perspective.

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