Although it may be more difficult than at times in the past, the vast majority of Americans still want to own a home and believe it is a good investment, according to a recent poll by the National Association of Home Builders.
The survey’s main goal was to gauge public sentiment on the value of homeownership and government programs that encourage homeownership and housing production. Conducted between July 22 and July 24, the nationwide survey polled more than 2,800 registered voters and discovered that 82 percent rated “a home for you to live in” as a good or excellent investment (which was the highest of the six choices available).
And despite how difficult it has been for young people who are looking to purchase a home, 81 percent of 18- to 29-year-olds still say they want to buy a home. 46 percent of the respondents said now is a good time to buy a home. Only half of that amount, 23 percent, said it was not a good time to purchase a home.
As far as obstacles to homeownership, 55 percent said finding a home at a price they could afford was the biggest challenge to overcome. 50 percent said saving up for a down payment was the biggest obstacle and 41 percent said getting approved for a home loan was where they would run into the most trouble.
To view a breakdown of the key findings of the survey, follow the link below.