American Dream of Homeownership Alive and Well
HOME LOANS, INDUSTRY NEWS
January 19th, 2012
A recent survey found Americans overwhelmingly support home ownership and oppose government changing laws
regarding the mortgage interest deduction or making home loans more difficult to obtain. Here are some of the findings in the poll conducted earlier this month by Public Opinion Strategies and Lake Research Partners:
- 75% agree it is” appropriate and reasonable for the federal government to provide tax incentives to promote home ownership.” Renters and owners alike agreed to this statement. 81% of Democrats and 71% of Republicans and Independents answered in the affirmative.
- 66% believe the federal government should help home buyers secure a 30-year fixed rate mortgage. Loans insured by HUD’s FHA loan program is an example of how the government can help buyers purchase a home with a low down payment and fixed-rate.
- 73% oppose changing or eliminating the mortgage interest deduction regardless of which political party they were affiliated with. 77% of Republicans, and 71% of Independents and Democrats agreed with this statement.
- 68% would be less likely to support a candidate in favor of eliminating the mortgage interest deduction. Respondents from all three parties agreed in virtually equal numbers.
- 96% of home owners, including 84% who are upside down on their mortgage, are happy with their decision to own.
- 79% would advise a family member of friend to buy. 69% of home owners “underwater” on their mortgage would give the same advice.
- Regardless of the turbulence which recently impacted the housing market, 74% still believe homeownership is their best long-term investment.
- Nearly 80% consider owning their own home is very important to them.
- Nearly 70% of non-home owners say buying a home is still one of their goals
- Worries about continued employment and saving for a down payment are deemed the biggest barriers for those wishing to buy a home.
These survey results of 1500 likely voters are consistent with other recent polls by Pew Research and New York Times/ CBS News. This survey was featured in a January 11, 2012 article published by the National Association of Home Builders.
It would appear, despite the negative fallout from the burst of the housing bubble, the American Dream of home ownership is alive and well.
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL LIVING REAL ESTATE PROFESSIONALS
CORNER OF COURT AND PLACER IN DOWNTOWN REDDING
NEARLY 30 YEARS LOCAL REAL ESTATE SALES EXPERIENCE
530-224-6767 OR 530-941-7492
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