The Importance Of Home Ownership To The American Dream

From almost the very beginning of this country, people have seen home ownership as part of the American Dream. Whether they were born here or they migrated here from another country, they wanted to own a piece of that dream. But with so many societal changes over over the last few decades, it is fair to ask if people in American still feel the same way about owning a home. The answer was a big as a house in two recent reports released earlier this month.

In their market trends report, As Housing Trends Shift,So Does Renter, Buyer and Seller Sentiment, Trulia revealed that: 

         "After two years of no change, the share of Americans who say that home ownership is part of the their personal "American Dream" ticked up from 72% to 73% of Americans."

At the same time, the National Association of Realtors released their Aspiring Home Buyers Profile. As the report explained:

        "For both the home owner and non-home owner alike, home ownership is strongly considered a part of the American Dream. For non-owners, roughly 75% reported that home ownership is part of their American Dream. For owners, 9 in 10 believe it is part of their American Dream."

The Bottom Line

The belief among the vast majority of Americans, whether they rent or own, is that purchasing a home still remains a major step towards accomplishing the American Dream. Even though the number has dropped recently, 71% of Millennials believe the same. 

Scott's Advice

Matters of money and affordability remains the number one obstacle to non-owners purchasing their homes. Here is my advice on the top 3 things to do to get started:

1. Find out your credit score

2. Get a handle on where you are with your current income and expenses

3. Talk to a real estate professional

Reaching out to a trusted real estate professional is the most important step. They can help you understand the process, give you advice on seeking a lender and when the time is right for you, help you find the home of your dreams with skill and professionalism.


Scott C. Dickinson is a real estate broker that resides in beautiful Vancouver, WA but helps others with their real estate needs all over the U.S. He can be reached by email at ScottYourBroker@gmail.com or call him at 360-518-7197. Check him out online at https://linktr.ee/yourbrokerscott.