There’s been some talk of future generations being less likely to buy a home because of the recent real estate downturn (which ironically has created a huge buying opportunity). If that were to occur, it could have an negative effect on a person’s future net worth as homeowning has been a way to build wealth. But a third quarter 2011 National Housing Survey by Fannie Mae shows that Generation X (born mid 60s to mid 70s) and Generation Y (born mid 70s to mid 90s) have strong beliefs in homeowning – even higher than that of the general population.
Thanks to the KCM blog for digging the statistics below out of the whole Fannie Mae report and creating a blog post on it. Here is an excerpt from that post.
Percentage believing in the reasons to own a home below:
1. It is a good place to raise children and provide them with a good education
– Generation Y 84%
– Generation X 81%
– General population 80%
2. You have a physical structure where you and your family feel safe
– Generation Y 77%
– Generation X 79%
– General population 76%
3. It allows you to have more space for your family
– Generation Y 76%
– Generation X 77%
– General population 73%
How about homeowning as an investment?
– Generation Y 70%
– Generation X 66%
– General population 64%
See this infographic also from the KCM Blog about real estate as an investment.
Photo Source & credit: KCM Blog
Looks like there is good reason to believe in homeowning… If this inspired you to look for Wisconsin real estate for sale, please check out firstweber.com and thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog.