While at the 2009 Coldwell Banker International Business Conference in San Antonio, Texas this past week, we took to the streets at the Riverwalk and asked people - Is Home Ownership Still a Part of Your American Dream? Thanks to everyone who shared their time and opinions with us.
Yesterday, our CEO Pete Flint asked consumers:
Is home ownership still part of your American Dream? Yes/No - and why?
With over 150 answers thus far, the feedback from home buyers, home sellers and home owners has been tremendous.
theBIGstep, a Home Buyers from Prince William County, Virginia was the first to answer and said, “As a first time home buyer I would say yes a to your question…..but as I start thinking about things I think home ownership or obtaining such is so much more complicated giving the economy and the times we live now. More than ever, is a time when you really have to educate, research and prepare yourself for what’s out there. There is an ever changing world of financial markets. Ideally finding a home would be an experience with all ups and no downs….but with the high rate of banks owning properties and people going for short sale and foreclosures and all of that craziness and just financial question of what the president has instore…. home buying seems much more volatile than ever. Renting takes out alot of factors and basically leave them to someone else who has already made the commitment and everything that comes with such.”
Dawn, someone who is just looking is from Indiana, Pennsylvania and said, “Yes - Part of my American Dream is self-sufficiency and that includes not paying rent to someone else to provide the roof over my head. Ideally, I would be able to afford building my own home!”
Liz, a home buyer from Atwater, California said,”I think so. If I buy a small home the cost per month will be about the same as what I’m paying for rent. I look at it like this—-you don’t RENT a car for everyday use. You KNOW you’re going to need a car, so renting one does not make sense. So, why rent a residence when you know you’ll need one until you die? You might as well put the money toward a home for yourself instead of toward your landlord’s home.”
Violet, a home buyer from Marietta, Georgia said, “I would like to buy another house if I sold this one. It is rewarding, growth and know that you’re not paying for other’s people equity but only yours. I would like to own a house again once I sold mine.”
Marilyn Good, a Home Seller from Seminole, Florida said, “Yes, absolutely! We just received a loan approval on a home we will close on in April. We currently also own a condo. We’ve lived in the condo 3 years, just enough to know condo living is not for us. We are going to rent out the condo and move back into a single family home. We were approved for the loan, so the banks are still lending. Richard is correct, don’t listen to the news!”
So, Is Home Ownership Still a Part of your American Dream?
Please leave your answer below, blog your answer or personal story on your Trulia Blog or just Tweet you answer on Twitter and use the following hash tag - #trulia so we can easily find your answer.
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March 7th, 2009 at 7:12 pm
Dear Trulia,
Thanks for taking the time to speak to the people in the streets while you were in San Antonio! As you can see, it’s a place where people from all over the US come to visit. I find that the dream is still alive and well here in San Antonio. While our market has slowed down some, San Antonio has been pretty much shielded from the downturn that has happened in many cities.
Patti Lora
Coldwell Banker
D’Ann Harper Realtors
Catch me on Twitter: @sahomes
March 13th, 2009 at 11:11 am
Hey Rudy - I think the dream of home ownership is still alive! However, folks seem to be getting a bit more realistic about it. Come on - dreams worth attaining take a while to plan, work for, and achieve!
Edison, Ford, Buffett (Both Warren and Jimmy!) - these are folks who humped it up and down the hill for a long time before attaining their goals.
Save, plan, save some more, clean your financial house up…. save a little more… then head into a wise home purchase.
And - as always - please consult tax, leagal, mortgage, and financial planning professionals. Yes there’s a cost involved - but spend a little now - save a LOT down the line!
May 8th, 2009 at 9:01 pm
This is old, so I don’t even know if I should comment. Anyway, I have to answer with a resounding yes. As someone who has only owned one house in my life, for one year, before selling for a move required by my work, I am one of the most house hungry people I know. Which, in this City, is tragic, because I make about 12,000 too much to get any help from governmental programs, while that 12K does not put me any closer to being able to buy a home in this market. It is very frustrating; I work very hard and make what would be a decent living anywhere else, but, here, I am just stuck. Bottom line, owning your home is fundamentally different than renting, on many different levels: financial, sure, but also psychologically and spiritually. A rented home comes close to being a oxymoron.