Harvard: Homeownership Still the American Dream

September 11, 2013

ImageA big question facing the real estate industry over the last few years is how the housing crisis would impact the public’s belief in homeownership as a major component of the American Dream. Many felt the tragedy experienced by so many families would force them to reconsider their desire to ever be a homeowner again.

A recent study by the Joint Center for Housing Studies at Harvard University addressed this question. Their paper, Reexamining the Social Benefits of Homeownership after the Housing Crisis, revealed some interesting findings:

Homeownership Still Preferred Over Renting

“Even after the dramatic loss of equity and the high foreclosure rates, the early evidence suggests that people seem to believe that, over the long run, owning is still preferable to renting…The long term cultural preference for owning seems to have weathered the recent housing crisis.”

Americans Still Expect to be Homeowners

“The research on home-buying expectations supports the conclusion that very large percentages of Americans still expect to buy a home at some time in the future.”

Younger Americans More Desirous of Homeownership

“Moreover, the finding that younger renters and owners are more likely than their older counterparts to expect to own bodes well for the future of the housing market.”

Even after one of the most difficult decades in this country’s real estate history, the belief that homeownership is a part of the American Dream still lives on.

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**Stylecraft Builders is an affordable New Home Builder in Central Texas. We are currently building in Brenham, Bryan, College Station, Conroe, Huntsville, Navasota, Killeen and Fort Hood, and Waco, Texas. **

Feel Free to Contact me Tanner Brewster the Online Sales Consultant for Stylecraft Builders:

Cell – 1-866-977-0998

tabrewster@stylecraft-builders.com

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Owning a New Home Vs Renting

September 15, 2010

Owning a home is still a smarter investment than renting. When the economy spiraled downward and home values followed—just not in Bryan-College Station—many people shied away from home ownership and opted for renting instead. There are many reasons why there are still far more advantages to owning a home than renting, even in this economy:

1. A mortgage payment is an investment. Rent is an expense.

Paying rent will give you no return. Your monthly mortgage is building equity in an investment.

2. Ownership has tax benefits.

You still enjoy deductions for mortgage interest, property tax, and home improvements. Renting provides none.

3. A home gains value.

In spite of the current situation, property values will increase. A rental property only gains value for the landlord.

4. Freedom.

Owning a home gives you the freedom to decorate, to landscape, and to live in your own space. A renter needs to ask for permission.

Look at your lifestyle and consider your future goals. Home prices and interest rates make buying a home more affordable than ever. When you add in the other advantages, can you really afford not to buy a home right now? Talk to us at Stylecraft Builders and we can help you find the right home and make it as easy as possible to make renting a thing of the past.