According to a recent report from online real estate company Trulia, consumers still view home ownership as part of the American dream, so much so that many are willing to put buying a home ahead of saving for retirement.
Trulia surveyed more than 2,000 Americans over the age of 18 to conduct its report. Of those responding, 70 percent claimed owning a home is part of their future plans. This percentage is unchanged from a similar survey the company conducted in January, which shows that consumers are largely unfazed by the recent economic turmoil.
In fact, 57 percent believe purchasing a property is the best long-term investment they could make. By comparison, 52 percent believe contributing money to retirement accounts, such as IRAs or 401(k) accounts is better long-term investment.
Furthermore, 80 percent of respondents claim they plan to purchase another home in the future, 69 percent of which were those over the age of 55.
Younger Americans were the least enthused about owning a home, as 24 percent of those between ages 18 and 34 didn't believe it to be part of the American dream.