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WHERE WILL THE HOUSING MARKET GO FROM HERE?

August 5, 2020

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Homeownership is a Cornerstone of the American Dream

“The rumors of my death are greatly exaggerated.”

 

The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last decade, the homeownership rate soared to over sixty-nine percent. After the crash, that percentage continued to fall for the next ten years.

 

That led to speculation that homeownership was no longer seen as a major component of the American Dream. That belief became so widespread that the term “renters’ society” began to be used by some to define American consumers.

 

However, the latest report by the Census Bureau on homeownership shows that over the last two years, the percentage of homeowners has increased in each of the last eight quarters.

 

 

 

Going forward…

 

It appears the homeownership rate will continue to increase.

 

The 2019 Aspiring Home Buyers Profile recently released by the National Association of Realtors revealed that 84% of non-owners want to own a home in the future. That percentage increased from 73% earlier last year.

 

Bottom Line

 

In the United States, the concept of homeownership as part of the American Dream is very much alive and well.

 

 

 

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Drew Hendon, Realtor® CaDRE 02032739
Signature Real Estate Group | CaDRE 02071123
39381 Los Alamos Rd Ste D
Murrieta, CA 92563
email: Drew@KSADreamHomes.com
mobile: (760) 586-7683
Drew was great. He was very honest and professional. We never felt disconnected and were always able to get a hold of him for questions. He was always present with us and we felt like family. Highly recommended.
-Justin and Kaitee Rivera-

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CaDRE 02071123