Survey Results Show Changing Homeownership Attitudes

Posted by Orb Staff on June 24, 2009 No Comments
Categories : Residential Mortgage

half of all American adults – more than 100 million people – no longer believe that homeownership is a realistic way to build wealth, according to the results of a recent survey commissioned by the National Foundation for Credit Counseling (NFCC). ‘It appears that whether a person was directly affected or not, Americans' attitudes toward homeownership have shifted," says Gail Cunningham, spokesperson for the NFCC. "The good news from the survey is that people now seem to grasp that buying a home is a complicated process and admit that they would benefit from education in advance of signing on the dotted line." The survey also found that almost one-third of those surveyed (roughly 72 million people) do not think they will ever be able to buy a home. Forty-two percent of those borrowers who once purchased a home, but no longer own it, do not think they'll ever be able to afford to buy another one. Of those who still own a home, 31% do not think they'll ever be able to buy another home, and 74% of individuals who never bought a home believe they could benefit from first-time home buyer education, the NFCC survey additionally shows. The Homeownership Survey was conducted by telephone within the U.S. by Harris Interactive on behalf of the NFCC between May 29 and June 1. SOURC

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