{"id":3473,"date":"2021-03-31T05:00:23","date_gmt":"2021-03-31T10:00:23","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/is-homeownership-still-considered-part-of-the-american-dream\/"},"modified":"2022-11-16T14:29:32","modified_gmt":"2022-11-16T20:29:32","slug":"is-homeownership-still-considered-part-of-the-american-dream","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/is-homeownership-still-considered-part-of-the-american-dream\/","title":{"rendered":"Is Homeownership Still Considered Part of the American Dream?"},"content":{"rendered":"

\"Is<\/p>\n

Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports<\/a> in Forbes<\/em>:<\/span><\/p>\n

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\u201cThe idea of a place of one\u2019s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all the land and, with few exceptions, everyone else was a tenant. The magic of America lay not only in its sense of opportunity, but also in the belief that life could in every way be shaped by the individual. People traveled here not just for religious freedom, but because in America anything seemed possible.\u201d<\/em><\/p>\n<\/blockquote>\n

Additionally, a research paper<\/a> released just prior to the shelter-in-place orders issued last year concludes:<\/p>\n

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\u201cHomeownership is undeniably the cornerstone of the American Dream, and is inseparable from our national ethos that, through hard work, every American should have opportunities for prosperity and success. It is the stability and wealth creation that homeownership provides that represents the primary mechanism through which many American families are able to achieve upward socioeconomic mobility and greater opportunities for their children.\u201d<\/em><\/p>\n<\/blockquote>\n

Has the past year changed the American view on homeownership?<\/strong><\/h4>\n

Definitely not. A survey<\/a> of prospective homebuyers released by realtor.com<\/em> last week reveals that becoming a homeowner is still the main reason this year’s first-time homebuyers want to purchase a home. When asked why they want to buy, three of the top four responses center on the financial benefits of owning a home. The top four reasons for buying are:<\/p>\n