Since the last survey in 2013, Americans have looked at homeownership more positively. In a June 2017 survey by Harris Pollfor Trulia, the number of Americans who have regrets about their present home or the process they went through to get it edged down to 44 percent. Some five years ago, 46 percent had this sentiment.
The 2,264 respondents were Americans ages 18 and up. And while millennials and seniors are generations apart, they still share some common sentiments. Despite the improving positive outlook and the constant but slow gains in the housing sector, some scars are just hard to erase.
What the Survey Shows
- Twenty-one percent (21%) of Americans have said that their past housing decisions have held off their plans in changing their current housing situation. They believe that their home purchase mistakes made it difficult.
- Even those whose income is above the U.S. median household income of $73,298 believe that affordability is a huge concern when purchasing a house today. Twenty-six percent of those whose annual household income is $100,000 or more think that they could not afford to buy a home.
- More than half believe that housing has become ‘less affordable’ since 2012 or 62 percent of the respondents. Of the 62 percent, 26 percent think that is has become ‘much less affordable.’
Renters are More Pessimistic about Homeownership Today
Compared to five years ago, the gap between renters who feel positively and negatively about homeownership has shrunk. However, 25 percent of the renters see owning a home ‘more negatively’ than five years ago. For homeowners, only 7 percent think of homeownership ‘more negatively’ now than they did in the past five years.
Despite these hold backs and road bumps, almost every American still believes that homeownership should be on top of the priority list. The last housing crisis and the housing market’s wild ride since then have taught many homeowners and renters valuable lessons. These can be used to their advantage in making better homeownership choices in the future.