The homeownership rate in the United States has fallen to a 19 year low. It is clear that young Americans are delaying home buying until later in life. Data from the US Census Bureau shows the rate of homeownership among millennials has fallen to the lowest level in recently recorded history.
At the beginning of 2014, homeownership for Americans under 35 fell to 36.2 percent. Homeownership for all ages dropped to 64.8 percent, the lowest since 1995. How does this affect the economy and American culture in its entirety? If homeownership is not attainable, does that mean the American dream is dying? Fortunately, the pride of homeownership still exists. It’s just not the priority it used to be.
Here are some touching reminders about the beauty and meaning of home:
“The ache for home lives in all of us. The safe place where we can go as we are and not be questioned.” – Maya Angelou
“Home is the nicest word there is.” – Laura Ingalls Wilder
“The physician can bury his mistakes, but the architect can only advise his client to plant vines – so they should go as far as possible from home to build their first buildings.” – Frank Lloyd Wright
“What is the use of a house if you haven’t got a tolerable planet to put it on?” – Henry David Thoreau
“A man builds a fine house; and now he has a master, and a task for life; he is to furnish, watch, show it, and keep it in repair, the rest of his days.” – Ralph Waldo Emerson
“There is something permanent, and something extremely profound, in owning a home.” – Kenny Guinn
“Eighty nine percent of Americans feel that buying a home is an important part of achieving the American Dream.” – Financial Security Index Survey
“A two-thirds majority of renter households said that owning a home someday is a specific goal that they are determined to reach, or something that they think about a lot.” – Housing Confidence Index
“The strength of a nation derives from the integrity of the home.” – Confucius
“The more one does and sees and feels, the more one is able to do, and the more genuine may be one’s appreciation of fundamental things like home, and love, and understanding companionship.” – Amelia Earhart