A10F03B49704A9555CB18D6BD506641C

American Dream

Dated: 10/02/2017

Views: 10

Report: Homeownership Is A Precondition Of The American Dream

Report: Homeownership Is a Precondition of the American Dream

Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials–agree homeownership is very important to achieving the American Dream.

Americans ranked “owning a home I love” higher than any other options (including “starting a family” and “finding a fulfilling career”) as an important part of the American Dream.

Despite some claims that homeownership’s importance to the American Dream is in decline, the report found that the dream of homeownership remains strong.

Of Americans who said they think achieving the American Dream is important, 70% think homeownership is important to the dream, and 41% think homeownership is very important to the dream.

What about Millennials?

Hearth addresses the desires of millennials by explaining:

“Contrary to popular opinion, millennials who want to achieve the American Dream are 5% more likely than Baby Boomers to think homeownership is important. And two-thirds of millennial renters view homeownership as important to the American Dream.

Although millennials are often portrayed as fickle and transient, they actually seek the stability of homeownership even more than their parents.”

Other Key Findings from the Report:

  • Homeowners are 126% more likely than non-homeowners to view homeownership as a way to build wealth. Nevertheless, homeowners still overwhelmingly associated homeownership with a family living space.

  • Homeowners are 24% more likely than non-homeowners to see homeownership as an achievement that reflects hard work.

  • Millennials are 77% more likely than baby boomers to see a home primarily as a way to build wealth.

  • Baby boomers are 98% more likely than millennials to see a home as a way to pass wealth down to children or family.

  • Millennials are 29% more likely than baby boomers to see a home as an achievement that reflects hard work–an outcome we expected given that many millennials are still working hard to afford their first homes.

Bottom Line

Blog author image

Irene Marie

Thank you for visiting my website. I am a real estate agent across the MS Gulf Coast. I can help you with questions on any property. First time home buyers have NO wrong questions. I can walk you t....

Latest Blog Posts

Homeowners And Appraisers See Eye To Eye On Price In 3 Years

Homeowners & Appraisers See The Most Eye-To-Eye On Price In 3 Years In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many

Read More

Is Your Pet Hurting Your Sale

7 Ways Your Pet Can Prevent a Sale | realtor.com® Cute Yet Cringeworthy Ways Your Pets Can Wreck a Home Sale By Jennifer Geddes | Jan 16,

Read More

5 Reasons Not To FSBO

Top 5 Reasons You Shouldn’t FSBO In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the

Read More

Maybe This Is Why Your House Will Not Sell

7 Dumb Reasons People Can't Sell a Home | realtor.com® 7 Dumb Reasons People Can't Sell a Home By Audrey Ference | May 31, 2018 iStock;

Read More