In a recent report released by National Mortgage News, only 14% of Americans claim homeownership is of primary importance.
According to Reportlinker, the goal of homeownership ranked fourth among American priorities in 2017, one step down from reaching career goals and just above having or adopting children.
National Mortgage News also reported that:
- Even though homeownership ranking dropped 5 percentage points from last year, the goal of homeownership more than doubled any other priority as a long-term goal. 54% said it was their primary long-term financial objective.
- About 81% of consumers say homeownership is the best long-term investment a person can make, with the investment advantage being one of the forces driving millennial interest in home buying.
- In this year’s first quarter, the volume of new-owner households doubled the number of new-renter households, signifying that the younger generation is making its way into the buyers’ market.