Americans Still Dream of that White Picket Fence

A recent survey of 2,000 likely 2012 voters found home ownership to remains a priority to 75 percent of Americans, despite the uncertain market.

The survey was conducted by political and public interest research firms Public Opinion Strategies of Alexandria, Virginia, and Lake Research Partners of Washington, on behalf of the National Association of Home Builders.

When asked what were their best investments, 36 percent said their homes and 33 percent said their retirement savings. And across all surveyed age groups, more than 70 percent agreed that owning a home is the best long-term investment and is worth the risk of the unstable market.

With 95 percent of home owners saying they are happy with their decision to own a home, it may not be surprising that 80 percent would advise a friend to buy a home in order to build assets. Even 78 percent of home owners with underwater mortgages would recommend home ownership to a friend.

Celinda Lake, president of Lake Research Partners, said Americans feel home ownership is "an anchor to your retirement, and it’s an anchor to your personal economic well-being."

The biggest reported barrier to home ownership was saving enough money for the down payment and closing costs. With lower hiring rates reported for the first quarter, and loan requirements getting stricter, many first time home buyers are waiting for the economic climate to improve.  

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