In the current tough economic times, is the American dream changing, or fading away? A new survey says right now, most Americans are not interested in purchasing a home. In a demographically balanced national survey of over 1,000 people, FindLaw.com asked people if the current economic situation made them more likely, or less likely to buy a house. Most responded in the negative.
According to the FindLaw survey, nearly two-thirds of Americans say they are less likely to buy a house given the current state of the economy. Only about a quarter of people surveyed, 28%, say they are neither more likely nor less likely to buy a house because of the economy. Not surprisingly, the numbers of those affected by the economy increase as income decreases. According to those surveyed, people with annual incomes less than $50,000 were significantly more likely to say they are less inclined to buy a house than people with higher incomes.
Recent news regarding improper foreclosures may also affect those considering buying their own home. All in all, despite the many homes available to potential buyers, it is clear we are all acting with caution after learning some lessons about real estate the hard way.
Related Resources:
- Questions to Ask When Buying a Home (FindLaw)
- Tips for Buying an Affordable House (FindLaw)
- The Legal Aspects of Buying a House Together (FindLaw)
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