Homeownership: Consumer Buying Trend
Consumer attitude toward buying a home is still strong, according to a recent survey of likely voters. A vast majority said that owning a home is the best investment they can make and worth the ups and downs of the market.
Last January, 1500 likely November voters were surveyed on behalf of the National Association of Home Builders by the Republican and Democratic polling firms of Public Opinion Strategies in Alexandra, VA and Lake Research Partners in Washington, DC.
The survey found that American voters “strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal roll to help qualified home buyers obtain affordable 30-year mortgages,” according to the Washington, DC based NAHB.
Neil Newhouse, a partner and co-founder of Public Opinion Strategies said that “The American electorate is sending a clear message that owning a home remains a cornerstone of the American Dream and preserving a federal commitment to homeownership is essential to maintain a thriving middle class and get housing and the economy back on track.”
The survey found that 96% of homeowners are happy with their decision to own, and 84% who are “underwater,” or owe more on their mortgages than their home is worth, expressed the same sentiment.