Homeownership Is And Will Always Be The American Dream

Homeownership Is And Will Always Be The American Dream

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There have been some who have voiced doubt as to whether or not the younger generations still consider buying a home as being part of the “American Dream”. A recent study by Merrill Lynch puts that doubt to rest. According to their research, every living generation still maintains that owning a home is in fact important. Here are the numbers: 


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This should not surprise us an many studies have revealed the benefits enjoyed by the families who own thier home.  Once such study was done by the "Joint Center of Housing Studies" at Harvard University that a addressed a major financial benefit to owning your own home: forced saving.  The report explains


"since many poeple have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people's tendency to defer savings to another day"


 The Merrill Lynch proves this point with the following date below on home equity ( a form of savings )  There are many reasons that owning a home makes sense.  The financial reasons are powerful. As one participant in the Merrill Lynch study put it:


“When I was younger, I always worried about that monthly mortgage payment. Now that I am retired, I have the peace of mind of knowing I own my home free and clear.”
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Alessandra Imanabadi Headshot
Author:
Phone: 510-504-2528
Dated: March 11th 2015
Views: 268
About Alessandra: Hi, this is Alessandra and I have been practicing Real Estate for over 14 years because I truly love...

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