More young adults long to be homeowners

Young people are more bullish on homeownership.The American Dream of homeownership appears to be alive and well among young adults who may have recently graduated from college and entered the working world.According to new polling data from survey agency EdelmanBerland, homeownership is an important component of life for 96 percent of Americans. This includes a substantial percentage of young respondents – a segment of the populace that hasn’t always considered it to be among their primary goals. However, in this most recent poll 77 percent of respondents between 25 and 34 years of age said it was “very important” to them, on par with the 78 percent of 35-44-year-olds who said the same.Earl Lee, CEO of HSF Affiliates LLC, which sponsored the poll, indicated that this heightened sentiment for homeownership couldn’t come at a better time for those who wish to buy affordably.”We feel there are many contemplating real estate now,” said Lee. “With interest rates near historic lows and prices in many markets still well off their highs, a home remains one of the best long-term investments people will make.”Young, prospective homeowners hoping to take advantage of Houston real estate are often limited financially, with many prospective buyers fresh out of college. Pending eligibility, they may be able to take advantage of homebuyer assistance programs, as the Texas Department of Housing and Community Affairs made $600 million in mortgage-backed securities available to new homeowners late last year.
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