Home Ownership, American Dream or Reality

Has the perceptive of Home Ownership in American changed or is it still the American dream. More and more in today’s buying statistics bigger is no longer better and more and more the reality is no longer based on a financial venture but a statement of family values and emotional security.
A trend, which is expected to grow over the coming years, is buyer’s thinking smaller with their purchases and scaling back their expectations with average sentiment going back to the mid 90’s before the boom in McMansion’s took many parts of the country by storm. By the year 2015 it is expected the average size of a new home will be 2,150 square feet, down from 2,500 square feet which was at the height of the housing boom.
As more and more American’s recover from the financial crisis that beset us in the past couple of years it is becoming apparent that the American sentiment on home ownership has shifted to one of living within ones means as opposed to stretching their financial budget to get the bigger house with more amenities and more gadgets.
Today a home defines who we are, the conversation has shifted to what we need and why rather than what we want and how do we get it and as this sentiment takes hold in more and more communities across America once again the foundation in home ownership will be laid down and create a solid base from which to emerge and make the American dream a reality and not a dream.
If you are in the market for purchasing a new home or selling a home and need an honest evaluation of your property value please contact me for a free evaluation at cristal@montecito-estate.com