The housing crisis and slow economic growth of the past few years has not put a damper on the way people feel about owning a home. In fact, new research has found that 87 percent of Americans say that they still want to own a home.
Researchers found there are several factors influencing the feelings of respondents when it comes to owning a home. Seventy-five percent of respondents feel that owning a home is an important part of raising a family, but 66 percent say that buying a home is a good financial investment. Sixty percent of home owners say they will be making improvements to their home in the coming year.
"Owning a home is at the heart of most Americans' dreams," said Kevin Watters, CEO of mortgage banking at Chase, which conducted the research. "And people are saving as much as possible to achieve homeownership."
The coming months may bring consumers closer to their goals, the researchers found. Fifty-six percent of consumers say that they expect the economy to improve in the next six months, while just 8 percent of people say the economy will worsen. Additionally, nearly twice as many potential home buyers say that they are optimistic in their ability to save for a down payment on a home.
However, not all Americans share in that optimism. A majority of renters say that the ability to own a home has become much harder in recent years.
"First-time home buyers are crucial to the housing market and the overall economy — and to their communities," Watters said. "As families buy their first home, they are investing in their communities and enable other families to move up. That will eventually spur more new construction, generating additional jobs."