There have been some who have
voiced doubt as to whether or not the younger generations still consider
buying a home as being part of the “American Dream”. A study
by Merrill Lynch
puts that doubt to rest. According to their research, every living generation
still believes that owning a home is in fact important. Here are the
numbers: This should not surprise us
as many studies have revealed the benefits enjoyed by the families who own
their own home. One such study
was done by the Joint
Center of Housing Studies at Harvard University that addressed a
major financial benefit to owning your own home: forced savings. The report explains:
“Since many people have trouble saving and
have to make a housing payment one way or the other, owning a home can
overcome people’s tendency to defer savings to another day.”
The Merrill
Lynch study proves this point with the following data on home
equity (a form of savings):
Bottom Line
There are many reasons that owning a home
makes sense. The financial reasons are powerful. As one participant in the Merrill Lynch study put
it:
“When I was younger, I always worried about
that monthly mortgage payment. Now that I am retired, I have the peace of
mind of knowing I own my home free and clear.”
David Demangos 858.232.8410 Locally Known, Globally Connected Luxury Home Marketing Specialist Global Property Specialist David@AwesomeSanDiegoRealEstate.com www.AwesomeSanDiegoRealEstate.com Our Team Goes to Extremes to Fulfill Your Real Estate Dreams! |
Sunday, November 15, 2015
Homeownership is Still a Huge Part of the “American Dream”
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