{"id":713,"date":"2022-11-16T21:55:22","date_gmt":"2022-11-16T21:55:22","guid":{"rendered":"https:\/\/johnsonteamrealestate.com\/?p=713"},"modified":"2022-11-16T22:01:04","modified_gmt":"2022-11-16T22:01:04","slug":"the-majority-of-americans-still-view-homeownership-as-the-american-dream","status":"publish","type":"post","link":"https:\/\/johnsonteamrealestate.com\/index.php\/2022\/11\/16\/the-majority-of-americans-still-view-homeownership-as-the-american-dream\/","title":{"rendered":"The Majority of Americans Still View Homeownership as the American Dream"},"content":{"rendered":"\n

Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report <\/em>from Mynd<\/em><\/a> found the majority of people polled still view homeownership as a key life achievement. Let\u2019s explore just a few of the reasons why so many Americans continue to value homeownership.<\/p>\n\n\n\n

The Financial Benefits of Owning a Home<\/strong><\/h4>\n\n\n\n

One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool<\/a>, and it provides meaningful financial stability<\/a> over renting by locking in your monthly housing payments for the length of your home loan. An article from Forbes<\/em><\/a> explains:<\/p>\n\n\n\n

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\u201cUnderstanding the potential benefits of homeownership helps individuals see the value of owning property instead of renting. . . . household wealth among homeowners is a whopping 1,469% higher on average compared to renters, excluding home equity, making the allure of homeownership even more enticing.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n\n\n\n

Over time, owning a home not only helps boost your own net worth<\/a>, but it also sets future generations up for success as you pass that wealth down. That may be why the Mynd<\/em> report<\/a> also says:<\/p>\n\n\n\n

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\u201cMost Americans (78%) still associate homeownership with the \u2018American dream.\u2019<\/strong> And nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

The Non-Financial Benefits of Homeownership<\/strong><\/h4>\n\n\n\n

While the financial benefits of owning a home are important, becoming a homeowner impacts you on a social and emotional level, too. As Mark Fleming, Chief Economist for First American,<\/em> says<\/a>:<\/p>\n\n\n\n

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\u201c. . . buying a home is not just a financial decision. It\u2019s also a lifestyle decision.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n\n\n\n

Your home provides feelings of achievement, responsibility, and more. 3by30<\/em><\/a> highlights the top 10 benefits homeowners enjoy. A few non-financial advantages include:<\/p>\n\n\n\n