{"id":2772,"date":"2022-07-05T19:36:49","date_gmt":"2022-07-05T19:36:49","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2772"},"modified":"2022-07-05T19:36:49","modified_gmt":"2022-07-05T19:36:49","slug":"homeownership-still-american-dream","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/homeownership-still-american-dream\/","title":{"rendered":"Is Homeownership Still the American Dream?"},"content":{"rendered":"
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Is Homeownership Still the American Dream?<\/p><\/div>\n

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about \u2013 success, freedom, and a sense of prosperity \u2013 are universal. That\u2019s why, for many people, <\/strong>homeownership<\/strong><\/a> remains a key part of the <\/strong>American dream<\/strong><\/a>.<\/strong> Your home is your stake in the community, a strong financial investment, and an achievement to be proud of.<\/p>\n

A recent survey<\/a> from Bankrate<\/em> asked respondents to rank achievements as indicators of financial success, and the responses prove that owning a home is still important to so many Americans today (see graph below)<\/em>:<\/p>\n

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Homeownership Is Still the American Dream<\/p><\/div>\n

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As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.<\/p>\n

That could be because owning a home is a significant wealth-building tool and provides meaningful financial stability. The National Association of Realtors <\/em>(NAR) explains<\/a>:<\/p>\n

\u201cHomeownership builds financial security. <\/strong>With 65.5% of Americans owning homes, the net worth of a typical homeowner is nearly 40 times the net worth of a non-owner.\u201d<\/em><\/p><\/blockquote>\n

There are other ways your home acts as more than just a roof over your head, too. The Mortgage Reports <\/em>highlights a few of the many benefits<\/a> homeowners enjoy, including:<\/p>\n