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If you are renting, do you think you will ever own a home?

27% of renters state they will never own a home. Although homeownership still is a dream for most Americans, it's waning as the foreclosure crisis continues to spread.
As the rate of homeownership falls to a 10-year low, the number of U.S. adults who consider owning a home to be the American dream is also on the decline, according to a survey from Trulia.

Just six months earlier, 77% of U.S. adults viewed owning a home as part of the American dream, but by July that number had fallen to 72% as the foreclosure crisis continues to grow.

Text gleaned online from realestate.msn.com

 
tasches

Asked by tasches at 11:37 PM on Aug. 19, 2010 in Home & Garden

Level 48 (298,202 Credits)
This question is closed.
Answers (13)
  • We've been renting since we were 18, we're both 29 now and are waiting to hear back on an offer we placed just today ~ I really don't think it's as unattainable as people might think. You need a credit score of above 620, you need a stable job, and a bank account without any NSF's for at least 90 days. Also, trade lines on your credit, like credit cards and a car loan, but you can also use utility accounts and a cell phone too. After that it's just about being realistic with what you can afford. If they accept our offer, we'll be closing in three weeks and will officially be home owners!
    Jennifina

    Answer by Jennifina at 11:46 PM on Aug. 19, 2010

  • Eventually when we're done with the military
    Glamourina

    Answer by Glamourina at 11:38 PM on Aug. 19, 2010

  • I hope so, once my husband retires from the military. There's no point in buying when we move around every two or three years.
    Izsarejman

    Answer by Izsarejman at 11:38 PM on Aug. 19, 2010

  • I rent, but it's hard to figure. We are not financially stable to own a home, and I'm not sure if we ever will.
    gnovinger

    Answer by gnovinger at 11:39 PM on Aug. 19, 2010

  • Yes, I know I will eventually, I am 18 right now and am going to college, and running my own business, so I have other priorities, buying a home is not at the top. I do have a 3 year time line to buying one though, and if I stick to my financial, investment, business plans, it is very likely.
    DomoniqueWS

    Answer by DomoniqueWS at 11:42 PM on Aug. 19, 2010

  • I like renting. I have no desire to own my own home. I'm 30.
    Ginger0104

    Answer by Ginger0104 at 11:47 PM on Aug. 19, 2010

  • Nope i will never own a home it was drilled into my head this past week the market is not open to ANY buyers but those with STELLAR credit heck i have no bad credit but also no new good credit so i can't get a home GRRR i'm not frustrated or anything lol plus the renting market is on a steady upward climb because all the home owners that are losing there houses and enetering the renting market its a VICIOUS circle Grrrrrr
    mommyspicer

    Answer by mommyspicer at 11:49 PM on Aug. 19, 2010

  • well we were on our way, but with no credit we have been denied just the pre-qualification so we have a long road ahead of us. We hope to though!
    Owl_Feather

    Answer by Owl_Feather at 11:52 PM on Aug. 19, 2010

  • we plan to buy after my BF retires from the military.
    stressedmomma13

    Answer by stressedmomma13 at 11:59 PM on Aug. 19, 2010

  • I've owned my home for 17years....I put 17 grand into it for a new roof and windows... it is worth 15,000 less than I paid for it now. I didn't realize that the American Dream was more of a nightmare....
    WoodWitch

    Answer by WoodWitch at 8:30 AM on Aug. 20, 2010

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