Just read an interesting article about a survey Coldwell Banker (YES, that is Prudential's competition) made that shows a shift in Americans' homeownership views.
It seems it is STILL the American Dream to own a home. But now, it is no longer tied to financial security or economic reasons, it's tied to the HEART. The home is the HEART of the family. Dr. Robi Ludwig stated: "..we're seeing a psychological shift. Instead of looking at homes through the eyes of an economist, we're realizing that a home doesn't solely equate to financial return or measure only to a mortgage amount. Instead the home is the emotional center of our lives, and it remains a critical component of who we are."
Stats: 79% indicate the recession has caused society to rethink the concept of homeownership.
84% Agree more people took owning a home for granted before the recession.
72% Feel like Americans have a greater respect for homeownership now than they did before the recession.
75% Agree thatt due to changes in the housing market and/or economy there has been an overemphasis on the financial value of a home rather than the emotional value of a home.
The article states that Americans remain bullish on homeownership and haven't forgotten the reasons that make homes precious to us, in bad or good times. People are being more mindful about what they need and can afford, and carefully considering these things before purchasing--however, they are purchasing or planning to.
90% feel people bought more than they could afford before the Recession.
86% believe Americans are more closely evaluating how much home they can truly afford now.
HOME RENTING VS. BUYING. MORE THAN A FINANCIAL DECISION.
Ludwig states: "Renting offers many people a suitable temporary solution, but in the long run, owning a home appeals to our innate desire for having things we can call our own, while providing a connection to the community around us. Home ownership is a commitment; it's about being rooted, which is one of our human instincts."
It appears that becoming a US "rent-based" society is not plausible.
91% agreed that owning a home is part of the American Dream.
83% of renters said they want to own a home someday.
94% of homeowners agreed that they are glad they own a home.
Homeownership is a pillar of success for many Americans. It provides a stable environment. Landlords don't have whims that interfere with decorating, noise levels, etc. Our children flourish in secure environments. And we just feel good stepping through our own front doors and pulling into our own driveways. It's good to "be at home". We enjoy having the ability to alter colors, make minor cosmetic alterations and structural changes that showcase our own personalities. Our homes reflect who we are.
To view more about this check out http://youtu.be/c9wwQuJY4mg for a video presentation.
Call me at 806 672 3082 if you are moving to Amarillo and need to buy a home and make it reflect who you are. Prudential Ada Realtors loves to help buyers find their "dream home".
judydendy@sweethomeamarillo.com
