The share of Americans who say owning their own home is of primary importance has slipped five percentage points in the past year
The share of Americans who say owning their own home is of primary importance has slipped five percentage points in the past year.
That's according to a survey by ReportLinker which shows that although Americans still view homeownership as an important life event, just 14% rank it as a primary importance in 2017, down from 19% in 2016.
Homeownership is ranked fourth below education, achieving career goals, and getting married.
However, it ranks top among long-term financial goals (54%) up 11% from a year ago; and 81% so homeownership is the best long-term investment.
ReportLinker’s study confirms that would-be first-time buyers are challenged most by the housing shortage, although a shift in focus among homebuilders towards starter homes should help to improve the situation.
The survey shows that among homeowners, 31% have a mortgage while 15% own their home outright, with those over 55 most likely to be mortgage free.
Other findings of the study include:
That's according to a survey by ReportLinker which shows that although Americans still view homeownership as an important life event, just 14% rank it as a primary importance in 2017, down from 19% in 2016.
Homeownership is ranked fourth below education, achieving career goals, and getting married.
However, it ranks top among long-term financial goals (54%) up 11% from a year ago; and 81% so homeownership is the best long-term investment.
ReportLinker’s study confirms that would-be first-time buyers are challenged most by the housing shortage, although a shift in focus among homebuilders towards starter homes should help to improve the situation.
The survey shows that among homeowners, 31% have a mortgage while 15% own their home outright, with those over 55 most likely to be mortgage free.
Other findings of the study include:
- 44% of people who cannot afford to buy a house and are still renting are Millenials aged 25 to 34.
- Following the purchase of their property, 42% of Americans cite maintenance and repair as their top priority.
- While energy conservation is a focus for some, only 16% said this is their priority.
