Despite The Valleys In The Real Estate Market, The Will To Own A Home Is As Strong As Ever

Checking The Pulse Of The Kansas City Real Estate Market

As we head into 2011, it doesn’t appear the will to own a home is cause for concern. A Fannie Mae poll in the past month shows that most Americans who don’t currently own a home STRONGLY aspire to do so. Given the lows of our current economy and given the challenges in our current real estate market, that impresses me. But I’ve never been one to underestimate the pride of home ownership in our country, so this Fannie Mae poll does not catch me by surprise.

I can’t imagine a scenario where I wouldn’t own my home. Just thinking about accepting what a landlord feels is good enough depresses me. I don’t want someone telling me what color my home will be. I don’t want to park my car in a parking lot or have to hit the ceiling with a broom stick to quiet the neighbors. Whether I was single or married, with kids or without, 25 or 65, I can’t imagine not owning my own home. Yes, home ownership comes with a lot of responsibility. There’s the mortgage payments… the maintenance…. there will no doubt be unforeseen expenses. But it would all still be worth it even if I didn’t get the mortgage interest deduction or appreciation over the years.

The Fannie Mae poll, which questioned more than 3,500 Americans, focused on owning versus renting and also found that more than 65% of respondents found it both a good time to buy a house and home ownership to be one of the safest of all investments. I found it interesting that 60% of Americans believe that buying a home today is much more difficult that it was for their parents. Note: the poll did ask parents any questions about having to walk uphill both ways to school.