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WSJ: Changing Perspectives About Homeownership

  • June 24th 2009

by Mark Wellborn

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WSJ: Changing Perspectives About Homeownership: Figure 1

On its Developments housing blog yesterday, The Wall Street Journal wrote about a National Foundation for Credit Counseling survey, which shows that many in the country no longer think that homeownership is a way to build wealth.

The survey, which included just over 1,000 adults, found that one-third do not think that they will ever be able to afford a new home, and a number believe that they will keep renting for the foreseeable future.

From the blog:

Consider it a by-product of the housing crisis, as millions of Americans face plunging home values leaving many stuck with a house worth less than the mortgage. This is only adding to the number of foreclosures and short-sales, eroding prices further and slowing recovery. Would-be buyers are sticking with landlords, while many who lose their residence return to writing rent checks.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/wsj_changing_perspectives_about_homeownership/1064.

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