Homeownership is a Cornerstone of the American Dream

“The rumors of my death are greatlyexaggerated.”

The famous quote attributed to Mark Twain can apply tohomeownership in the United States today. During the housing bubbleof the last decade, the homeownership rate soared to oversixty-nine percent. After the crash, that percentage continued tofall for the next ten years.

That led to speculation that homeownership was nolonger seen as a major component of the American Dream.That belief became so widespread that theterm “renters’ society” beganto be used by some to define American consumers.

However, the latest report by the Census Bureau onhomeownership shows that over the last two years, the percentage ofhomeowners has increased in each of the last eight quarters.

Going forward…

It appears the homeownership rate will continue to increase.

The 2019 AspiringHome Buyers Profile recently released bythe National Association of Realtorsrevealed that 84%of non-owners want to own a home in the future. That percentageincreased from 73% earlier last year.

Bottom Line

In the United States, the concept of homeownership as part ofthe American Dream is very much alive and well.