Roost: Is Home Ownership still the American Dream?
Chris Hadley
· 1 year ago
I'm a homeowner and, while my home is losing equity right now, I still enjoy the peace and quiet that comes with owning a home vs. renting. Also, owning brings other benefits as well. You have the freedom to change whatever you like (within zoning and HOA rules), you can be much louder than in an apartment and you get a nice tax break. I'm just hoping I can keep my head above water so I can keep paying my mortgage. Good thing I stuck to the 28% rule and went with a fixed rate when I purchased the home back in 2007.
Derek Overbey
· 1 year ago
I hear you Chris. I bought my home back in 2004 and have seen my "equity" come back to earth with a thud. Now I could probably get close to what I paid because we live in a great school district and our home is in pretty good shape. But we are not moving anytime soon and I still am able to realize the tax benefits and the aspect of upgrades and changes without calling the landlord is what still makes home ownership worth it.
Allan
· 1 year ago
I think the pride of ownership will always be an eternal longing for all Americans. However, I think it'll take a long time for the trust and willingness to take a risk at ownership to return.
Do you think that more people are starting to bargain hunt for homes after the recent market turmoil? Perhaps the recovery won't take as long as I assumed.
Tampa Real Estate Blog
· 1 year ago
I think home ownership will always be the American dream. We will bounce back once consumers get confidence back and start buying again and inventories come down.
Dubai real estate portal
· 10 months ago
We rent, but we want to own. My thought is that the advantage of a paid off home if you can attain that in some way is that when you are older your income drops and if you have a paid for home you can almost always afford to stay in it.
We used to own homes in the past but after several years of on and off unemployment just after 9-11, we had to sell and move across country. Now we want to own but not with a big mortgage. We have been looking and trying to find some way to do this with our savings.
If you rent in old age–you will pay more to live in the home I think than you would if you own without a mortgage and only have to pay taxes.
In that one respect we think ownership is better–that and you don’t need ‘as much’ permission to do what you like in your own place–you still need permits from government, but at least you don’t have a landlord.
All Comments
Do you think that more people are starting to bargain hunt for homes after the recent market turmoil? Perhaps the recovery won't take as long as I assumed.
We used to own homes in the past but after several years of on and off unemployment just after 9-11, we had to sell and move across country. Now we want to own but not with a big mortgage. We have been looking and trying to find some way to do this with our savings.
If you rent in old age–you will pay more to live in the home I think than you would if you own without a mortgage and only have to pay taxes.
In that one respect we think ownership is better–that and you don’t need ‘as much’ permission to do what you like in your own place–you still need permits from government, but at least you don’t have a landlord.
Make sense?