Defining the American Dream

Most Still Strive for Ownership

Posted on Friday, August 20, 2010

More than 72 percent of American adults say that home ownership is a part of their personal American dream, down from 77 percent six months ago, according to a survey for Trulia.com.

About 23 percent said their attitude toward homeownership has grown more positive in the last six months, while 19 percent say they feel more negatively.

Among those adults who are renting a home, 27 percent say they never intend to buy. Of the renters who do plan to purchase eventually, 68 percent said it would be more than two years before they do.

The factors that would encourage them to buy now are:

• Able to save a down payment, 47 percent
• Land a new job, 28 percent
• Interest rates stay low or fall lower, 27 percent
• Some other factor that persuades them that buying makes financial sense, 24 percent
• Get a raise, 23 percent
• Local real estate market stabilizes, 9 percent

Source: Trulia.com (08/18/2010)


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