The economic crisis changed forever the way Americans think about housing.
“Transformational” changes have taken place in the way people think about housing as a result of traumatic experiences during the housing crisis. No longer is owning a home considered more stable than renting, and the stigma associated with renting has dissipated.
Though nearly three out of four renters still aspire to own a home at some point in their lives, homeownership is just not the priority early in life like it used to be.
There’s been a shift in the renting versus owning conversation. More than half of adults believe that “buying has become less appealing,” and almost the same amount of adults believes that “renting has become more appealing” than it was before.
Nearly half of current owners can see themselves renting at some point in the future.
Homeownership is no longer synonymous with the American Dream. Three in 5 adults believe that “renters can be just as successful as owners at achieving the American Dream.
--Ownership is no guarantee of housing stability. Nearly half of all respondents (45%), owners and renters, have experienced a time in their life when their “housing situation was not stable and secure.”
America is going through a transformational period, the unconventional is becoming more conventional and even fashionable. A prime example of this can be seen through changing perspectives on housing.
This survey demonstrates that the American public’s views about housing are changing, in part due to the hangover from the housing crisis, but importantly, also because of changes in our lifestyles.