RISMEDIA: 7 of 10 Renters Say Owning a Home is a Top Priority

Most Americans still believe that owning a home is a solid financial decision, and a majority of renters aspire to homeownership as a long-term goal. According to the 2011 National Housing Pulse Survey released recently by the National Association of REALTORS®, 72 percent of renters surveyed said owning a home is a top priority for their future, up from 63 percent in 2010.

Seven in 10 Americans also agreed that buying a home is a good financial decision and almost two-thirds said now is a good time to purchase a home. The annual survey, which measures how affordable housing issues affect consumers, also found that more than three quarters of renters (77 percent) said they would be less likely to buy a home if they were required to make a 20 percent down payment. And, a strong majority (71 percent) believe a 20 percent down payment requirement could have a negative impact on the housing market.

To read the rest of this article, click here.