Is the American Dream of homeownership still alive? Since 2009, Trulia has tracked consumer sentiments on homeownership. Here are the findings from the latest survey conducted by Harris Interactive ...
Is the American Dream of homeownership still alive? Since 2009, Trulia has tracked consumer sentiments on homeownership. Here are the findings from the latest survey conducted by Harris Interactive between Aug 30 - Sept 1, 2011.
Trulia American Dream Survey - Fall 2011Presentation Transcript
Is the American Dream of Homeownership Still Alive? September 20, 2011
About Jed: Former associate director of research and research fellow at the Public Policy Institute of California Previously worked at Forrester Research Office of Federal Housing Enterprise Oversight (now FHFA) World Bank Progressive Policy Institute Earned Ph.D in Economics and A.B. in Social Studies from Harvard University Connect with Jed: Email:jed@trulia.com Twitter: @JedKolko Blog: http://insights.truliablog.com Hosted by Jed Kolko, Trulia’s Chief Economist
American Dream Survey
Homeownership Remains Central to the American Dream *Trulia – Harris Interactive Survey, Conducted Jan 20-24, 2011
Optimism for Long-term Housing Demand
All Ages Aspire to Own Homes Across all age groups – even among 18-34 year olds, who have the lowest homeownership rates in the country – the majority of respondents said their American Dream includes owning a home. 14%
Serious Financial Obstacles Block Aspiring Homeowners More than half (57%) of current homeowners said owning a home is among the best long-term investments they could make, ahead of putting money in a 401K or other retirement accounts, but aspiring homeowners face major barriers to homeownership, including:
American Dream Shifts Away from McMansions Shunning super-sized homes, only 6% of Americans say their ideal home size is more than 3,200 square feet. ? *Trulia – Harris Interactive Survey, Conducted July 22-26, 2011
People Still Dream Big When Searching for Homes * *Based on search traffic to Trulia.com from Aug 30 – Sept 1, 2011
Americans are Ready to Trade Down and Live Closer to Work
Survey Methodology The August 2011 survey was conducted on line within the United States by Harris Interactive via the Quick Query omnibus product on behalf of Trulia between August 30 – September 1, 2011 among 2,207 adults (aged 18 and over) of whom 1,392 were homeowners and 758 were renters. The January 2011 survey was conducted on line within the United States by Harris Interactive via the Quick Query omnibus product on behalf of Trulia between January 20-24, 2011 among 2,079 adults (aged 18 and over) of whom 1,339 were homeowners and 683 were renters. The July 2010 survey was conducted on line within the United States by Harris Interactive via the Quick Query omnibus product on behalf of Trulia between July 22-26, 2010 among 2,055 adults (aged 18 and over) of whom 1,345 were homeowners and 663 were renters. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents’ propensity to be online. These online surveys are not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodologies, including weighting variables, please contact pr@trulia.com.
Mimi Wu