Economic Seminar ReCap about home ownership…
As promised, we have another fascinating tid-bit of information from the economic seminar we attended on Friday. In fact, A very interesting report that I have now heard at two separate seminars was a survey conducted by Wells Fargo bank to get a pulse for current and future home ownership intentions across buyer groups. Despite the doom and gloom regularly reported about housing, the overwhelming conclusion was that:
Homeownership is still a major goal for 70% of Americans – regardless of economic factors. The report specifically asked buyers if they would change their opinion of home ownership if they knew the value of their property would remain flat or decline in the short term. Further, if more stringent financing requirements were instituted, would that change their opinion? No and no.
Over and over the American attitude has remained steadfast in regard to home ownership; Americans want to buy a home. A place where they can come home to….Relax with friends…Raise a family…turn into their own personal space and expression of self…a place where they will create memories for the rest of their lives.
A house is not an investment, ATM machine or flipper. A house should be a home first and foremost. It’s reassuring to confirm that no amount of scare tactics by the media, uncertain economic future or any other factor can damper the most fundamental of American dreams: Home ownership.