This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Owning A Home Is Still The American Dream

Stocks in this article: JPM

The American dream of homeownership is alive and well even after the battering prices and budgets took during the housing crisis, according to a survey released today by Chase. A total of 87% of respondents said owning their home is something they have always wanted.

“Owning a home is at the heart of most Americans’ dreams,” said Kevin Watters, Chief Executive Officer of Mortgage Banking at Chase. “And people are saving as much as possible to achieve homeownership.”

While 66% believe housing is a good financial investment, 75% see it as an important part of raising a family.

“Owning a home will not only give my husband and me pride and roots, but it will also bring pride in my children and respect from my friends and family,” said one respondent.

Potential home buyers are gaining confidence. Compared to six months ago, nearly twice as many potential first-time buyers are optimistic about being able to save for a down payment over the next six months. Overall, 56% of consumers expect their finances to improve over the next six months while only 8% expect them to worsen.

“First-time home buyers are crucial to the housing market and the overall economy – and to their communities,” Watters said. “As families buy their first home, they are investing in their communities and enable other families to move up. That will eventually spur more new construction, generating additional jobs.”

Other findings include:

  • Twice as many consumers who refinanced plan on spending more over the next six months than those who did not refinance.
  • 68% of renters want to own a home, but cite saving money to purchase a home as becoming increasingly difficult. While pulling together a down payment has always been challenging, tighter requirements have raised the hurdle.
  • 60% of home owners plan to invest in improving their property in the next year.

About Chase

Chase is the second-largest originator of U.S. mortgages, making $192 billion in new and refinanced mortgages in 2012. It services 7.6 million mortgages, and has modified 610,000 mortgages to help homeowners since 2008. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.4 trillion and operations worldwide. Chase serves millions of consumers and small businesses through more than 5,600 bank branches, 18,600 ATMs, credit cards, mortgage offices, and online and mobile banking as well as through relationships with auto dealerships. More information about Chase is available at www.chase.com.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs