Americans choosing homeownership over marriage
Nov 18, 2021
Americans are saying "no" to the dress. According to the latest survey from Coldwell Banker Real Estate LLC, a Realogy company, 82% of unmarried Americans say they'd prefer to invest in a home over a big, expensive wedding.
Overall, Americans are still thinking of homeownership, indicating that they would rather allocate money to achieving those dreams than investing in other personal milestones such as big weddings, vacations or even paying off their student debt.
"The 2021 housing market has been marked by low inventory and competition as Americans continue to keep homeownership top of mind," said M. Ryan Gorman, president and CEO, Coldwell Banker Real Estate LLC. "Our latest survey suggests that, with generations of all ages and backgrounds prioritizing homeownership over other financial goals, this sellers' market may continue into 2022."
Conducted online by The Harris Poll among over 2,000 U.S. adults, the survey reveals that
- Younger Americans (age 18-44) are more likely to say owning a home is an important financial goal for them (45%) compared to those 55+ (30%)
- 47% of respondents who are renters say "owning a home" is an important financial goal for them
- 42% of Hispanic Americans said "owning a home" is an important financial goal — which ranked higher than any other financial goal
"Coldwell Banker's survey found that homeownership is a primary financial goal for 47% of Americans surveyed who identify as Hispanic," said Ricardo Rodriguez, Coldwell Banker global luxury ambassador, Boston, Mass. "The U.S. Hispanic population reached more than 62 million in 2020, growing significantly in the past decade, according to the Pew Research Center. The affiliated agents at Coldwell Banker recognize this incredible potential for increasing homeownership, and they're equipped to help this population looking for a home navigate the complexities of a tight housing market."
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