Last week, Trulia released the results of its biannual American Dream Survey, which has tracked American attitudes towards homeownership since 2008. Harris Interactive conducted this online survey on Trulia's behalf between August 30 to September 1, 2011 among 2,207 U.S. adults aged 18 and over.
According to the research, "70 percent of Americans said homeownership is part of achieving their American Dream. ...Notably, more than half (57 percent) of current homeowners said owning a home is among the best long-term investments they could make, ahead of putting money in a 401K or other retirement accounts (52 percent). In fact, 80 percent said they plan to buy another home in the future which includes 69 percent of homeowners aged 55 years old or older."
Among those who are currently renters, the biggest obstacle they must overcome before becoming homeowners (for 51% of them) is saving enough for a down payment in the current market. Qualifying for a mortgage is the second most often cited obstacle.
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