Boston Condos for Sale and Apartments for Rent

Boston Massachusetts homeownership rate

Homeownership is still good

I have met many people during my twenty-year career in real estate. I occasionally meet people who do not want to be homeowners but it is fairly rare. I

sometimes find articles written by people who regret purchasing a house. Usually, it is because they purchased the wrong house or bought it at the wrong time.

The wrong house is usually a house that is too expensive and the wrong time is usually at a time in a person’s life when they can benefit from being able to easily move.

Homeownership can be expensive but so is renting. In the long run, owning real estate builds wealth.

According to the National Association of Realtors, in a recent survey:

“Nearly 75% of Americans say that owning a home is a more significant measure of achievement than having a successful career or even raising a family, according to a survey from Bankrate.com of about 2,500 adults.

Seventy-four percent of survey respondents rated homeownership as the highest gauge of prosperity. It stopped being able to retire (66%); having a successful career (60%); owning a car, truck, or another automobile (50%); having children (40%), and earning a college degree (35%).

Older adults are more likely to rate homeownership highest, the survey finds. Eighty-five percent of baby boomers and 78% of Gen X selected homeownership over other items compared to 59% of Gen Z and 65% of millennials, the survey shows.”