Market Updates: Homeownership is Still A Huge Part Of The "American Dream"

Posted by Dil Gillani on Monday, November 2nd, 2015 at 9:00am

Homeownership is Still a Huge Part of the

There have been some who have voiced doubt as to whether or not the younger generations still consider buying a home as being part of the “American Dream”. A study by Merrill Lynch puts that doubt to rest.

According to their research, every living generation still believes that owning a home is in fact important. Here are the numbers:

Homeownership is an important part of the American Dream | Keeping Current Matters

This should not surprise us as many studies have revealed the benefits enjoyed by the families who own their own home. One such study was done by the Joint Center of Housing Studies at Harvard University that addressed a major financial benefit to owning your own home: forced savings. The report explains:

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The Merrill Lynch study proves this point with the following data on home equity (a form of savings):

Average Home Equity | Keeping Current Matters

If you're curious about your home's market value, use our free Comparative Market Analysis tool! You'll get an instant home evaluation and even a free in-person assessment provided by one of our agents at your leisure.

Thanks to our friends at KCM for the awesome market information!

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