Ms. Orman appeared on HBO’s Real Time with Bill Maher and addressed the housing market in this country. Her comment:
“We now have an America that doesn’t even think that they want to own a home anymore; they’re under water in their homes, and they are praying that somebody will just take it off of their hands so that they can rent.”
Her statement shocked me. I realize that there are many individual cases that are nothing less than tragic. I understand that there are some families trapped in a house they cannot sell. To say that Americans no longer believe in homeownership, however, is just not true. If you go to Orman’s own site and search the words ‘home ownership’, it sends you to FannieMae’s website for infomation.
What makes this ironic is that, on FannieMae’s website, you can find the National Housing Survey which is done quarterly. This survey asks Americans how they feel about housing. Here are a couple of findings from the most recent survey:
§ 96% of all homeowners (and even 93% of all homeowners that are currently are underwater) believe that homeownership has been a positive experience.
§ 84% of Americans and 70% of renters believe home ownership is a better alternative than renting.
§ 63% of renters have aspirations to someday be a homeowner.
§ 64% of Americans think buying a home is a safe investment. (A safer investment than stocks or government bonds)
§ When asked which investment is currently showing the most potential, more Americans picked buying a home than ANY OTHER INVESTMENT (stocks, bonds, mutual funds, etc.)
§ Broken down – 67% of homeowners, 55% of renters and even 75% of those homeowners underwater believe it is a good time to buy a home.
Suze Orman may believe that
families in this country now prefer renting over owning. Surveys say the exact
opposite. Americans still very much believe in owning their own home.
In fact, 2011 finished out a year where business increased 38% for me personally. 2012 is tarting off with strong demand and the pent up demand for home ownership is showing itself.