It seems like over the past decade, the so-called "American Dream" of getting married, having kids and successfully purchasing a house has been harder and harder for most citizens to attain. However, even though the actions of the Obama administration to interfere with the free market by imparting unprecedented federal control over the national economy has had an arguably negative affect on the finances of members of the working class, a recent study indicates that the majority of American adults are still optimistic about their prospects of becoming homeowners.
Conducted by NeighborWorks America, the survey polled 1,000 respondents to see how they felt about the housing market and where they see themselves in the future with regard to purchasing property. Of those who were asked, roughly 88 percent said that they felt owning a home is an important element of their "American Dream," while at the same time, almost 55 percent also said that they would not feel any less successful in life if homeownership wasn't in the cards.
"Although the housing market took one of the largest hits ever—with home prices falling nationally and foreclosures rising to more than one million homes annually—homeownership remains a goal many want to achieve," Eileen Fitzgerald, CEO of NeighborWorks America, said in a press statement. "But it's important to also note that the poll also underscores that we need to have quality and affordable rental homes available for those people who simply prefer to rent."
Despite consumer optimism, individuals who are basing their retirement on their investments into such avenues as real estate need to look into asset protection to make sure they aren't missing out on any wealth preservation opportunities.