The Homeownership Dream Thriving Once Again

Even with the lingering impact of the housing bust, the home ownership dream is thriving once again. Young American’s between the ages of 18 and 29 is the biggest age group that plan to purchase a new home in the near future, according to a poll done by Gallup.

In the older age groups, homeowners are planning to stay put. Over 58% of homeowners between the ages of 30 and 49 who were polled by Gallup say they will be staying where they are. The same goes for other age homeowners. 71% of homeowners between ages 50 and 64, and 69% of homeowners 65 and older say they plan to stay in their homes no matter what kind of improvement the housing economy shows.

Before the housing bubble busted, putting access amounts of foreclosed homes on the market, home ownership was well above 70%. Now, home ownership across the nation is below 60%. However, that is on the rise and many real estate specialists are expecting that percentage to rise drastically over the next two years.

The current economy has been enjoying more job growth and less foreclosed properties on the market. This has also helped home prices go up once again. The Gallup poll shows that most people who earn over $75,000 a year own a home, but many people making less than $30,000 do not. However, they plan on becoming a homeowner within the next 10 years as loan standards ease up making more loans available for those who make less than $30,000 a year.

All in all the report from the Gallup poll is good news for the real estate economy. Only time will tell just how much growth we will actually see.

This home ownership dream information is brought to you by: Tom Kile – your real estate resource for Amarillo, TX and surrounding communities.

Originally posted at:  http://allamarillohomes.info/the-home-ownership-dream-thriving-once-again/