Deeply embedded in the American psyche is the idea that one should own his or her own home. With the tremendous financial changes over the past decade, and especially with the recession, home ownership continues to be regarded as one of the best investments to be made in one's lifetime.
Opportunities for those who seek home ownership are opening up across nation. Del Mar real estate (an upscale residential section within the larger San Diego County CA housing market) is one area where the average price of real estate has been declining.
A recent Fannie Mae survey found 51% of homeowners and renters feel that the housing crisis has not impacted their desire to buy, while approximately 27% believe the recent slump and actually made them more likely to buy - possibly due to reduced prices!
Everything moves in circles and cycles! Just like "what goes up must come down," what goes down must bounce back up again: America's home ownership rate has dropped from 69.2 per cent at its peak in 2004 to 66.5 per cent in the fourth quarter of 2010. That is its lowest rate since 1998.
Interest Rates and mortgages remain at an all-time low - meaning the time has never been better to make that move and purchase a home of your own!
Tags: real estate, home ownership