Some people would say that the housing bust would have soured Americans on homeownership. But a survey from the nation’s leading homebuilding trade group says that those people would be wrong. Three-quarters of respondents said that owning a home is the best long-term investment they can make despite the housing market decline, with 23% of respondents disagreeing. That sentiment is shared most strongly among homeowners (81%) and remains high among renters (67%). The National Association of Home Builders commissioned the survey to push back against the view that Americans have abandoned homeownership. Regulators have reacted to the financial crisis by proposing lending rules that could raise borrowing costs for future homeowners and a growing number academics and policymakers have called for eliminating generous subsidies for homeowners. “There has been a disconnect between the media and the American voters and those in Congress who are talking about devaluing or de-emphasizing the importance of homeownership,” said Jerry Howard, the trade group’s president. The study finds that 95% of all homeowners surveyed are happy with their decision to own a home. [Read this article]
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