Eighty-five percent of Americans say they prefer home ownership over renting, according to a newly released Fannie Mae national housing survey of more than 12,000 interviews from 2011. The study finds that the housing and financial crisis has not been a big factor in Americans’ decisions to rent or buy.
'The nonfinancial benefits that people derive from the consumption of housing mitigate the negative financial experiences that many home owners have had,' says Steve Deggendorf, one of the authors of the study.
Instead, “for a large number of people, emotions rule. We need to think about how they approach the housing decision and think about the kind of help that they may need [in the process].”
The researchers note that it’s important to help Americans take a more conscious approach in their home-buying decisions, assisting them to better balance their “wants” in a home with what they can actually afford. The researchers add that buyers' emotions often lead them to ignore their practical ability to buy a home at all.read more
'The nonfinancial benefits that people derive from the consumption of housing mitigate the negative financial experiences that many home owners have had,' says Steve Deggendorf, one of the authors of the study.
Instead, “for a large number of people, emotions rule. We need to think about how they approach the housing decision and think about the kind of help that they may need [in the process].”
The researchers note that it’s important to help Americans take a more conscious approach in their home-buying decisions, assisting them to better balance their “wants” in a home with what they can actually afford. The researchers add that buyers' emotions often lead them to ignore their practical ability to buy a home at all.read more
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