Homeownership still america’s dream

Most Americans still believe that owning a home is a solid financial decision, and a majority of renters aspire to home ownership as a long term goal, according to a new survey from the National Association of Realtors.

Its 2011 National Housing Pulse Survey shows that 72% of renters surveyed said owning a home is a top priority for their future, up from 63% in 2010.

Seven in 10 Americans also agreed that buying a home is a good financial decision while almost two thirds said now is a good time to purchase a home.

The annual survey, which measures how affordable housing issues affect consumers, also found that more than three quarters of renters, 77%, said they would be less likely to buy a home if they were required to put down a 20% deposit and a strong majority, 71%, believe a 20% deposit requirement could have a negative impact on the housing market.

Source: NuWireInvestor.com