The desire to own a home remains strong

The Fannie Mae National Housing Survey for the second quarter of 2011 offers a glimpse of what Americans think of the housing market. While 26 percent say job security is a concern, the bottom line remains clear: The desire of Americans to own their own home remains strong. 

Sixty-five percent of Americans think that buying a home is a safe investment and 69 percent say now is a good time to buy, according to the survey.

But buyers aren’t just looking at the bottom line. Two in three Americans say lifestyle benefits — having a safe place to raise your children, more space for your family and control over your living space — are superior to financial benefits.

Fannie Mae polled homeowners and renters in the second quarter of 2011 and found that 95 percent of homeowners say homeownership has been a positive experience while 82 percent of renters say renting has been a positive experience.

Top obstacles to getting a home loan: income, credit history and having enough for a down payment. Some other findings from the survey:

  • 56% think that buying a home has a lot of potential as an investment, higher than those saying the same of stocks, IRA/401k plans, and investing in mutual funds
  • Just one in four renters consider renting superior to ownership
  • Almost two in three renters have long-term homeownership aspirations
  • 73% of single-family renters believe that it would be difficult for them to get a mortgage

Find additional details about the survey and a fact sheet at fanniemae.com.

 

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