The Conundrum Of Homeownership

A majority of North Carolinians are worried about making a housing payment but also believe homeownership is the best way to build wealth, according to a new Elon University Poll…(Elon)

• When asked if in the last 6 months if respondents had been worried about about missing a rent or mortgage payment, a majority said yes. 27% were somewhat worried, 15% were worried, and 10% were very worried.

• When asked if higher home prices is a good or bad thing for their family 47% of respondents said a bad thing.

• However, when asked if owning a home a good way for families in North Carolina to build wealth an overwhelming majority said yes. 82% of respondents said yes while just 18% said no.

This highlights the conundrum many American are experiencing. They like that the equity in their home has increased making them wealthier and they still believe that’s the best way to build wealth. However, they are also concerned about what higher prices means for future moves and for wannabe homeowners

FUNNY NOTE: As a YIMBY myself I have to laugh at the fact that 60% of respondents opposed to changing zoning laws to allow more houses per acre and 47% believe rising home prices are bad. That means 13% of respondents are concerned about rising home prices but when given an opportunity to do something about it they said nahhhh…