{"id":7799,"date":"2022-07-05T10:00:51","date_gmt":"2022-07-05T10:00:51","guid":{"rendered":"https:\/\/thezakariagroup.com\/is-homeownership-still-the-american-dream\/"},"modified":"2022-07-05T10:00:51","modified_gmt":"2022-07-05T10:00:51","slug":"is-homeownership-still-the-american-dream","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/is-homeownership-still-the-american-dream\/","title":{"rendered":"Is Homeownership Still the American Dream?"},"content":{"rendered":"
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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.<\/span><\/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 <\/a><\/p>\n 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>\n<\/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 Plus, homeowners tend to be more active in their community. Like NAR says<\/a>:<\/p>\n \u201cLiving in one place for a longer amount of time creates and [sic] obvious sense of community pride, which may lead to more investment in said community.\u201d<\/em><\/p>\n<\/blockquote>\n If your definition of the American Dream involves greater freedom and prosperity, then homeownership<\/a> could play a major role in helping you achieve that dream. When you set out to buy, know there are incredible benefits waiting for you at the end of your journey. You\u2019ll have a place you can call your own, feel most comfortable, and grow your wealth<\/a>.<\/p>\n\n
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What Does That Mean for You?<\/strong><\/h4>\n