Americans Still View Homeownership as the American Dream

Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide.

A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owning a home is still important to so many Americans today (see graph below):

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As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.

A recent report from MYND helps shed light on why so many people value homeownership . It finds:

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

That’s because, when you own a home , your equity (and net worth ) grows over time as you pay down your home loan and as home prices appreciate. This can be a key factor in building intergenerational wealth and long-term financial stability.

To further drive home the difference homeownership can make in your life, a report from Fannie Mae 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.”

Especially today, this could be because, when you own a home with a fixed-rate mortgage , you stabilize what’s likely your largest monthly expense (your housing cost), and that helps combat the impact of rising costs from inflation .

What Does This Mean for You?

While it may feel challenging to buy a home today with higher mortgage rates and home prices , if the time is right for you, know that when you buy a home , incredible benefits are waiting for you at the end of your journey.

Bottom Line

Buying a home is a significant and powerful choice, embodying the foundation of the American Dream. If you plan to make your homeownership dream a reality this year, let’s connect to start the process .

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Mortgage Brokers in North Palm Beach FL , Christian Penner Mortgage Team, North Palm Beach FL mortgage lender specializes in conventional, FHA , VA , Jumbo and Reverse Mortgages . Competitive Rates, Apply Today !

America’s Mortgage Solutions , NMLS #: 2009420

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Questions, Comments or For more information you can contact Christian Penner at: (561) 316-6800 Visit us online at www.ChristianPenner.com

The Christian Penner Mortgage Team,

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