Skip to main content

Study Reaffirms Public View of Homeownership as ‘American Dream’

Phil Hall
Jun 18, 2019
Photo credit: Getty Images/Vasyl Dolmatov

The long-standing view that homeownership is the “American Dream” is still standing, according to the newly published results of First National Bank of Omaha’s 2019 State of Homeownership Survey.
 
The survey of 1,086 participants found 79 percent of respondents identifying homeownership as part of the “American Dream,” with 59 percent considering homeownership essential to raising a family and 71 percent stating homeownership was more of a financial investment than as a financial liability. Ninety-four percent of respondents who are homeowners said are happy they decided to become a homeowner and 79 percent of non-homeowner respondents said they planned to own a home one day.
 
However, that’s not to say that there are some concerns attached to being a homeowner. Sixty-eight percent of homeowner respondents said they carry mortgage debt and 53 percent admitted that homeownership and maintenance was more expensive than they expected. Fifty-five percent non-homeowners who wanted to own a home expressed concerned that their credit will prevent them from being approved for a mortgage.
 
“While owning a home certainly carries significant costs, the tradition of homeownership remains overall strong and a vital part of America,” said Jerry O’Flanagan, executive vice president of the consumer banking group at First National Bank of Omaha. “Our survey reveals insight on the extent to which Americans value homeownership and the extent to which homeowners are happy with their decision. The caveat, however, is that owning a home requires a lot of smart planning and weighing of financial options.”

 
Published
Jun 18, 2019
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021
FHFA Suspends Controversial PSPA Amendments

Today, the FHFA will be suspending controversial provisions added to the Preferred Stock Purchase Agreement (PSPA) on January 14, 2021.

Industry News
Sep 15, 2021
Covius Holdings To Acquire Nationwide Title Clearing

All 670 NTC Employees, Including Senior Management, Will Join Covius

Industry News
Sep 14, 2021
MBA Appoints AVP Of Diversity, Equity, & Inclusion

Promotes Amber Lawrence From Position As Associate Director Of Career Development Programs

Industry News
Sep 14, 2021