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Posted on July 01, 2011

Money Management International’s 2011 homeownership survey focused on the feelings people have in regards to owning a home and some of the factors included in that decision.

Survey question overview

  • Is a home a good investment?
  • What is the most important factor to consider when making the decision to purchase a home?
  • How do you feel about renting vs. buying?
  • Do you consider owning a home to be the “American Dream”?

Suggested storylines based on survey findings

  • Despite the economic climate and housing trends, 69 percent of respondents believe that owning a home is still a good investment.
  • The most important factor to consider when purchasing a home is having enough income to support the monthly payment comfortably, according to 59 percent of respondents.
  • Despite the negative consequences of not requiring a significant down payment when buying a home, fewer than one in 10 respondents to a recent MMI survey feel that being able to easily afford the down payment is the most important factor to consider when buying.
  • Homeownership is still fundamental to the American psyche, with 66 percent of respondents saying that they would buy a home rather than rent if they were in a position to change residences now.
  • Despite all the recent problems in the housing and mortgage industries, an overwhelming 81 percent believe that owning a home is still the “American Dream.” Those who responded that they didn’t believe owning a home is still the “American Dream” gave the following reasons for their response:
    • Owning a home is too expensive (30 percent)
    • There’s more to the “American Dream” than owning a house (22 percent)
    • Economic factors (17 percent) Negative feelings about banks and mortgage companies (11 percent)
    • Owning a home is too much work (7 percent)

Related resources

View resources related to the 2011 homeownership survey.

View the full 2011 homeownership survey results.

Read more in our Homeownership and Home Loans section.