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? Now may be the right time to make your move. According to a CNNMoney.com article, Americans are still passionate about owing a home - they are just proceeding with greater caution. Check out an excerpt from the article:Nearly two-thirds of Americans would still prefer to own a home, although the recent housing market turmoil and uncertain economy have made them a little more cautious about how and when, according to a survey released Tuesday.
A nationwide survey conducted by mortgage lender Fannie Mae found 65% of the homeowners and renters believe there is still value in owning a home.
But the survey also suggests that potential home buyers have become more cautious in the years since the housing bubble burst, giving rise to a wave of foreclosures and a severe recession.
"Consumers are still committed to owning a home, but are showing increased cautiousness," said Doug Duncan, chief economist at Fannie Mae.
He said the downturn in the housing market has led to a "rebalancing" of consumer attitudes towards homeownership. Americans are adopting a more realistic approach and are now less willing to take risks, he said.
The survey showed that home buyers are growing more concerned with longer- term priorities, as opposed to the house "flipping" mentality that characterized the market during the boom years.
Over 40% said personal safety was their main consideration when buying a home, while a third indicated that the quality of local schools was the dominant factor.
Posted by Danielle Darany @ 4:51 PM