Bucks Blog: Americans’ Attitudes Toward Owning a House Have Changed

Associated Press
A home for sale in Glenview, Ill.

Even as the housing market improves, Americans seem more willing to embrace renting as an alternative to homeownership, a new survey on housing attitudes from the MacArthur Foundation finds.

Many Americans still say they have a strong desire to own their own home, but the overall appeal of renting compared with owning is changing, the survey found. Fifty-seven percent of adults believe that “buying has become less appealing,” and 54 percent believe that “renting has become more appealing” than it was before.

And nearly half of current homeowners (45 percent) say they can see themselves renting at some point in the future.

The survey was commissioned by the John D. and Catherine T. MacArthur Foundation. Hart Research Associates conducted telephone interviews of 1,433 adults from Feb. 27 to March 10. The margin of sampling error is plus or minus three percentage points.

The survey is part of the foundation’s “How Housing Matters” initiative, which finances research that explores “if and how housing leads to improved outcomes in child well-being, physical and mental health, education and economic opportunity.”

Despite improving indicators, like upswings in home values and building, many Americans remain unconvinced that the housing crisis is over. Nearly 8 in 10 believe the country is still in the midst of the crisis, the survey found. The effects of the housing crisis, combined with longer-term lifestyle changes, seem to have created a more realistic view of the risks and benefits of homeownership, Rebecca Naser, a vice president at Hart Research, said in a conference call about the findings.

The sentiment that renting is more acceptable is “quite pronounced” across the public, Ms. Naser said. “The world is changing, and renting is becoming more viable,” she said.

Two-thirds of adults now believe the focus of the country’s housing policy should be equally split between rental and ownership, rather than promoting one over the other, the survey found.

And 61 percent of adults now believe that renters can be just as successful as owners in achieving the “American dream,” the survey found.

How has the housing crisis changed your outlook on homeownership? Do you think renting is a viable long-term option?

Article source: http://bucks.blogs.nytimes.com/2013/04/03/americans-attitudes-toward-owning-a-house-have-changed/?partner=rss&emc=rss