Americans moving towards homebuying again

The housing market crash has been wreaking havoc on American homeowners and homebuyers for the past several years, but experts believe the tides may finally be turning. The Genworth International Mortgage Trends Report has found that almost two-thirds of Americans believe that now is a good time to buy a home.

"We hope that federal and state lawmakers recognize this pent-up demand and enact policies that foster prudent homeownership," said Kevin Schneider, Genworth U.S. Mortgage Insurance president. "Regulators should develop a qualified residential mortgage rule that will strengthen underwriting standards without denying the dream of homeownership to credit-worthy Americans."

Even though half of the individuals surveyed are concerned about the country's economic future, approximately 87 percent of people who purchased their home in the past 12 months believed their mortgage repayment obligations would be more easily met, which is an improvement of 2 percent over last year.

However, the average age of a homebuyer has grown from 27.3 in the 1970s, to 31.6 in the 2000s. This increase in age could mean that buyers are spending more time saving for a down payment than those before them.  

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