TruliaPro says the results of a recent survey show 80 percent of 2,207 American adults polled envision the purchase of a home in their lifetime. Despite the recent housing slump, concerns over employment, credit scores, and saving for a down payment, 65 percent of the respondents maintain home ownership continues to be part of their American Dream. The older the respondents, the more affirmative they were of home ownership. But where do they want to live? The trend for Boomers and for those in the 18-34 year-old category (Millenials) is urban. The Boomers want to live closer to shops and restaurants, and the Millenials closer to work. Within the last year, over 36 percent of those polled showed a declining interest in living in a house larger than 3,200 square feet. As the population expands, the demand for more housing must surely follow. Sarah Stelmok, realtor in Fredericksburg, VA echoed the Dream: “Real estate will always be one of the best investments there is.” But what will happen to all those McMansions? Stay tuned.
(photo credit: TruliaPro)