Industry News

Americans bet high on housing

Survey: Despite troubles, more than half believe home ownership still attainable

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A recent survey from AOL Real Estate and Zogby International probed Americans' views on the constantly evolving real estate market, finding optimism in home ownership, despite current hardships. More than half of the survey respondents said they believe home ownership is still attainable for most people, while 43 percent said they spend more than 30 percent of their household budget on housing, which according to the U.S. Department of Housing and Urban Development indicates they are "cost burdened." With so many Americans using a large percentage of their budget for housing, the survey found that 22 percent of participants would lose their house or apartment with an unexpected short-term job loss and 30 percent are working paycheck to paycheck to cover housing costs. Also, 30 percent said they know someone who has gone through or is being forced to sell their home due to foreclosure, the survey found. Despite the troubles some Americans are facing, 31 perc...