Homeownership still part of American dream

Even though obstacles, such as financial regulation and lack of available credit, continue to keep a number of prospective buyers from becoming homeowners, a recent poll found that Americans still hold homeownership in high regard.

Even though obstacles, such as financial regulation and lack of available credit, continue to keep a number of prospective buyers from becoming homeowners, a recent poll found that Americans still hold homeownership in high regard.

According to the poll, conducted by the National Foundation for Credit Counseling, 51 percent of respondents would invest in property if their personal financial situation were to suddenly improve.

"Homeownership has traditionally been a part of sound financial planning," said NFCC spokesperson Gail Cunningham. "With a combined total of 74 percent of respondents selecting a home-oriented option, the poll results strongly suggests that people continue to place value in owning a home, and are anxious to buy a house or improve their existing one."

Meanwhile, the poll also revealed that 23 percent of participants says making home repairs and partaking in home improvement projects to increase their property value was important. 

However, despite the high level of homeownership sentiment, numerous buyers are still struggling to meet pricey down payment requirements, while many current homeowners are being held back from selling their properties due to negative equity.



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