The majority of adults surveyed by the National Association of REALTORS® (NAR) in the fourth quarter of 2018 believe that owning a home is part of the American Dream.
About 90 percent of homeowners and 75 percent of non-homeowners — renters and those living with living with a family member — said owning a home is part of the American Dream, according to the Housing Opportunities and Market Experience (HOME) survey by NAR. The survey also asked consumers why they didn’t purchase a home yet and what circumstances would help them reach that point. About 43 percent of respondents said the cost of owning a home was the major obstacle.
“Unaffordable housing has caused a number of potential buyers to hold off on purchasing a new home,” said NAR Chief Economist Lawrence Yun. “The lack of affordable and moderately priced homes has forced non-homeowners to delay achieving that part of the American Dream. However, as the survey confirms, significant lifestyle changes like marriage or starting a family often spur non-owners to pursue homeownership.”