What can Americans not live without? A car? A smartphone? Credit cards? Lake Research Partners found out via a survey, and the answer may be a little surprise for some.
A recent poll conducted on behalf of the National Association of Home Builders has found that a huge majority of Americans believe in investing in homeownership, with over 78 percent of all respondents agreeing, and 43 percent strongly agreeing.
Of the respondents, one-third said that purchasing a house is one of the best investment options available - despite the sharp contraction of housing prices across the United States following the subprime bubble crash.
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Alex Batty, partner with Public Opinion Strategies, commented:
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People told us that homeownership is more than just bricks and mortar, more than just having a big mortgage. It's about family. It's still part of the American dream.
According to Market Watch, the National Association of Home Builders commissioned the "election-year survey in the hopes of backing up its lobbying effort on Capitol Hill with data that could show Congress and the Obama administration that housing is still a valued commodity in the country and that Americans want the government to provide supportive housing policies".
The group's chief lobbyist Jim Tobin said:
It's been frustrating for us, to see what we think is a lack of focus on housing. We are just starting to see some of our efforts on this pay off with the Republican candidates and the president.
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Last month, President Barack Obama announced a string of mortgage-refinancing changes that would allow homeowners yearly savings on their mortgage repayments.
Accordingly, Obama's plan would allow borrowers to refinance at lower rates, provided the mortgages are backed by government controlled Fannie Mae and Freddie Mac.
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