Daily Real Estate News | Monday, March 18, 2013
Eighty-seven percent of Americans recently surveyed say that owning a home is something they dream about, according to a survey by JPMorgan Chase.
"Owning a home is at the heart of most Americans' dreams," says Kevin Watters, CEO of mortgage banking at JPMorgan Chase. "And people are saving as much as possible to achieve home ownership."
Sixty-six percent of Americans surveyed say that they believe home ownership is a good financial investment. Seventy-five percent say it’s a crucial part of raising a family.
First-time home buyers are getting more optimistic about being able to achieve home ownership too. The number of potential first-time home buyers who say they are optimistic about being able to put money down on a home over the next six months doubled in the last six months, compared to previous survey results.
"First-time home buyers are crucial to the housing market and the overall economy—and to their communities," says Watters. "As families buy their first home, they are investing in their communities and enable other families to move up. That will eventually spur more new construction, generating additional jobs."
Source: “Survey shows homeownership is still the American Dream,” HousingWire (March 15, 2013).)