A recent survey entitled American Attitudes about Homeownership published by Harris Interactive for the National Association of Realtors® (NAR) reveals that a majority of Americans still see long-term value in homeownership. Despite the recent economic downturn, flood of foreclosures, and crisis in the housing markets, both homeowners and renters still believe that homeownership carries worthwhile benefits – both financial and non-financial.
Americans believe that over a period of several years, there are financial benefits to owning a home as compared to renting a home or apartment. They also believe that these financial benefits will help them meet long-term financial goals.
As far as non-financial benefits, this study reports that homeowners feel more connected to their community and more invested in the safety, cleanliness, and stability of their neighborhood. Many people surveyed believe that a high rate of homeownership contributes to the overall positive community environment. Homeowners may be more likely to take the time to get to know their neighbors and get involved in community activities.
Given these survey results, there is still a feeling that America is not on the right track yet and that 2011 will be much the same as 2010 in terms of economic conditions. However, this is a crucial time to capitalize on the strong public support of homeownership and ensure the accessibility of purchasing a home with responsible and accountable lending practices.
AFR Mortgage offers home loan programs specifically for first time homebuyers including FHA financing solutions and mobile home mortgages. Call us today to learn more: 800-316-9508.