Dream of Home Ownership Alive & Well
In my opinion, real estate investors will play a big role in resuscitating communities hurt by high levels of foreclosures and distressed property sales. Empty homes deteriorate and invite crime hurting the neighborhood. When investors come in and rehab a property it attracts home buyers back to the neighborhood. It's nice to see in the following survey results and in other recent stats that people still believe in the American Dream of home ownership just as much as ever.
Survey: American Dream Still Alive
The American dream of homeownership is alive and well with both home owners and potential home owners undeterred by the current housing slowdown.
According to the latest American Dream Survey by Trulia.com, more than 75 percent of Americans surveyed consider owning a home a key part of achieving their personal American Dream.
Creating more jobs and increasing job security is the most important thing President Barack Obama can do to stabilize the housing market, says 53 percent of those surveyed.
Other notable findings:
- 7 percent believe it is important for Obama to keep interest rates low.
- 5 percent think it is important to offer other economic incentives to homeownership.
- 21 percent say it is wise to reduce foreclosures.
- 6 percent believe that there is nothing Obama can do to stabilize the housing market.
Overall, 29 percent of those surveyed believe the housing market will improve in the next year. Of the Republicans surveyed, only 10 percent see improvement in the next year, while 47 percent of Democrats believe in that timetable.Harris Interactive surveyed more than 1,400 home owners and about 600 renters for the survey.Source: Trulia.com (03/05/2009)