American dream of homeownership continues amid foreclosures

Yahoo! Real Estate Survey shows consumer resilience in the face of foreclosure

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

By now, nearly five years after the real estate market meltdown began, you’d think virtually no housing consumer has been unaffected. To start, more than 5 million homes have been foreclosed and repossessed by lenders; 10 million homeowners are underwater (owing more on their homes than the homes are worth); and untold millions who want to offload their homes either can’t or are trying — and struggling — to sell.

And while nearly everyone who pays for the place they live in has experienced some impact from the real estate recession, it looks like one thing remains insulated from damage: our belief in the value of homeownership.