Americans remain high on homeownership in spite of a stagnant market, falling prices and even the prevalence of underwater mortgages. Seventy-five percent of likely voters say owning a home is the best long-term investment they can make, according to a survey commissioned by the National Association of Home Builders.
Public Opinion Strategies of Alexandria, Va., and Lake Research Partners of Washington, D.C. conducted the survey of 2,000 likely 2012 voters between May 3 and 9. Results were released locally by the Home Builders Association of Metropolitan Portland and the Portland Metropolitan Association of Realtors.
“Many have recently been insisting that homeownership in the U.S. has lost its ‘luster.’ The data collected totally refutes that notion. Owning a home remains a strong core value with the overwhelming majority of Americans!” said Karl Finkelnburg, president of the Portland home builders group.
Key findings:
• 65 percent of homeowners who owe more on their mortgage than their home is worth share the belief that owning a home is a good long-term investment.
• 73 percent of voters who do not own a home say homeownership is a goal.
• 95 percent of homeowners are happy with their decision to own a home.
• 80 percent of current homeowners would advise friends and loved ones just starting out to buy a home.
Despite the lure of homeownership, Portland's rental market continues to sizzle. According to U.S. Census Bureau data, Portland has the nation's tightest rental market among metropolitan areas tracked with a vacancy rate of just four percent.
Source: Biz Journal
National Bi-Partisan survey regarding the support of home ownership