The Majority of Americans Still View Homeownership as the American Dream

Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the _2022 Consumer Insights Report_ from [_Mynd_](https://www.mynd.co/real-estate-market-consumer-insight-report) found the majority of people polled still view homeownership as a key life achievement. Let’s explore just a few of the reasons why so many Americans continue to value homeownership. #### The Financial Benefits of Owning a Home One possible reason homeownership is viewed so highly is because owning a home is a significant [wealth-building tool](https://www.simplifyingthemarket.com/2022/11/04/homeownership-wins-over-time-infographic/?a=713258-9a8342bcf821027012880bf1d7cccbf7), and it provides meaningful [financial stability](https://www.simplifyingthemarket.com/2022/10/19/should-you-still-buy-a-home-with-the-latest-news-about-inflation/?a=713258-9a8342bcf821027012880bf1d7cccbf7) over renting by locking in your monthly housing payments for the length of your home loan. An article from [_Forbes_](https://www.forbes.com/sites/forbesfinancecouncil/2022/08/03/three-ways-homeownership-can-build-wealth/?sh=196ed94423e5) explains: > ###### _“Understanding the potential benefits of homeownership helps individuals see the value of owning property instead of renting. . . . household wealth among homeowners is a whopping 1,469% higher on average compared to renters, excluding home equity, making the allure of homeownership even more enticing.”_ Over time, owning a home not only helps boost your own [net worth](https://www.simplifyingthemarket.com/2022/09/06/how-owning-a-home-builds-your-net-worth/?a=713258-9a8342bcf821027012880bf1d7cccbf7), but it also sets future generations up for success as you pass that wealth down. That may be why the _Mynd_ [report](https://www.mynd.co/real-estate-market-consumer-insight-report) also says: > ###### _“Most Americans (78%) still associate homeownership with the ‘American dream.’ And nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”_ #### The Non-Financial Benefits of Homeownership While the financial benefits of owning a home are important, becoming a homeowner impacts you on a social and emotional level, too. As Mark Fleming, Chief Economist for _First American,_ [says](https://blog.firstam.com/economics/the-reconomy-podcast-what-is-the-fed-signaling-on-interest-rates): > ###### _“. . . buying a home is not just a financial decision. It’s also a lifestyle decision.”_ Your home provides feelings of achievement, responsibility, and more. [_3by30_](https://3by30.org/homeownership-101/benefits-of-homeownership/) highlights the top 10 benefits homeowners enjoy. A few non-financial advantages include: - Providing you with more freedom and control over your living space - Giving you a greater sense of pride - Helps with community engagement #### What Does That Mean for You? If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you [achieve that dream](https://www.simplifyingthemarket.com/2022/10/14/tips-for-first-time-homebuyers-infographic/?a=713258-9a8342bcf821027012880bf1d7cccbf7). While it may feel challenging to buy a home today as [mortgage rates](https://www.simplifyingthemarket.com/2022/10/12/four-things-that-help-determine-your-mortgage-rate/?a=713258-9a8342bcf821027012880bf1d7cccbf7) and [home prices](https://www.simplifyingthemarket.com/2022/10/20/whats-ahead-for-home-prices/?a=713258-9a8342bcf821027012880bf1d7cccbf7) rise, if the time is right for you, know that there are [incredible benefits](https://www.simplifyingthemarket.com/2022/10/17/the-emotional-and-non-financial-benefits-of-homeownership/?a=713258-9a8342bcf821027012880bf1d7cccbf7) waiting for you at the end of your journey. You’ll have a place you can [grow your wealth](https://www.simplifyingthemarket.com/2022/11/04/homeownership-wins-over-time-infographic/?a=713258-9a8342bcf821027012880bf1d7cccbf7), call your own, and feel most comfortable. Like the _National Association of Realtors_ (NAR) [says](https://cdn.nar.realtor/sites/default/files/documents/2022-snapshot-of-race-and-home-buying-in-the-us-report-02-23-2022_0.pdf): > ###### _“. . . research has consistently shown that homeownership is also associated with multiple economic and social benefits to individual homeowners. Homeownership has always been an important way to build wealth.”_ ### Bottom Line Buying a home is a powerful decision and a key part of the long-term dream for many Americans. And if homeownership is part of your dreams this year, let’s connect to start the process today. Posted by [Ryan Drowne](https://www.thedavidgreengroup.com/blog/author/ryandrowne/) on November 8th, 2022 Enjoy this blog post? Click here to subscribe for updates [Facebook Share this post on Facebook](https://www.thedavidgreengroup.com/blog/httpswwwsimplifyingthemarketcomen20221108the-majority-of-americans-still-view-homeownership-as-the-a.html# "Share this post on Facebook") Twitter Tweet this post on Twitter [Email Send a link to post via Email](mailto:?subject=The%20Majority%20of%20Americans%20Still%20View%20Homeownership%20as%20the%20American%20Dream&body=I%20was%20looking%20at%20https%3A%2F%2Fwww.thedavidgreengroup.com%2Fblog%2F%20and%20I%20thought%20you%20would%20like%20to%20look%20at%20this%20blog%20entry%3A%0D%0Ahttps%3A%2F%2Fwww.thedavidgreengroup.com%2Fblog%2Fhttpswwwsimplifyingthemarketcomen20221108the-majority-of-americans-still-view-homeownership-as-the-a.html "Send a link to post via Email")[](https://www.thedavidgreengroup.com/blog/httpswwwsimplifyingthemarketcomen20221108the-majority-of-americans-still-view-homeownership-as-the-a/print.html "Opens new window with print ready page") ### Leave A Comment Leave text box empty Full Name\- required Email Address\- required Website Link e.g. yourwebsitename.com Comment\- required Submit Comment Please note that your email address is kept private upon posting. Message us ··· Chatra DG  David Green AS  Alexandra Salmon Ask us anything – we’ll get back to you here or by email. [We run on Chatra](https://chatra.com/?utm_source=logo_f&utm_campaign=US_www.thedavidgreengroup.com&utm_medium=selfie_en_get) reCAPTCHA Recaptcha requires verification. [Privacy](https://www.google.com/intl/en/policies/privacy/) - [Terms](https://www.google.com/intl/en/policies/terms/) protected by **reCAPTCHA** [Privacy](https://www.google.com/intl/en/policies/privacy/) - [Terms](https://www.google.com/intl/en/policies/terms/)