Survey says: Homeownership still part of American Dream

According to a recent survey, owning a home is still a major tenet of the American Dream.

The survey, which looked at 2,000 people likely to vote in 2012, was conducted on behalf of the National Association of Home Builders (NAHB) by Public Opinion Strategies of Alexandria, Va., and Lake Research Partners of Washington, D.C.

"The survey results show that Americans see beyond the immediate housing market to the enduring value of homeownership," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market, and 95 percent of the home owners said they are happy with their decision to own a home," Nielsen said.

Among the other survey results:

• Homeownership and a retirement savings program are considered by voters to be their best investments.
• 80% of homeowners would advise a close friend or family member just starting out to buy a home.
• Saving for a down payment and closing costs is the biggest barrier to homeownership.
• Americans believe that owning their own home is as important as being successful at their job or being able to pay for a family member's education.

For more information: www.nahb.org/news_details.aspx?newsID=12823