The National Association of Realtors®’ 2017 National Housing Pulse Survey reported that 84% of Americans now believe that purchasing a home is a good financial decision.
This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision:
1. Homeownership means the money you spend on housing builds your equity instead of your landlord.
2. Homeownership creates the opportunity to own your home by the time you retire.
3. Homeownership builds long term investment wealth and increases net worth.
4. Homeownership stabilizes your monthly home payment.
5. Homeownership allows for various deductions on federal, state, and local income taxes.
Majority of Americans revealed that they strongly agree that homeownership helps create safe, secure, and stable environments.
Bottom Line Homeownership has always been and still is a crucial part of the American Dream.