Written by  on January 6, 2012 for QuickenLoans

The American dream of homeownership is a very feasible aspiration for  2012.

There are many benefits of owning a home.  Yet some first-time buyers  are skeptical of purchasing with the uncertainty surrounding the housing  market.

The uncertainty many reference when speaking about the housing market  involves a specific date when home values will increase. Since no one can  pinpoint this date, the word uncertainty (when paired with the housing market)  often reveals a negative connotation.

There are some factors we can be certain about in this housing market such as  home values rebounding.  This is true; the housing market often moves in  cycles.

It’s safe to assume that many Americans harbored the same uncertainty during  the George H. W. Bush administration in the early 1990s when the national  homeownership rate fell from its previous historic high of 64.4 percent in 1980  to a low of 64.1 percent in 1991.

In the 1960s Lyndon Johnson illustrated a correlation between homeownership  and accountability by stating “owning a home can increase responsibility and  stake out a man’s place in his community…The man who owns a home has something  to be proud of and reason to protect and preserve it.”

This statement is still true more than 50 years later.  There are many  reasons to take pride in homeownership such as:

Equity building is a beneficial trend that’s becoming more and more popular  with fiscally responsible homeowners.  Also, home equity is the largest  single source of household wealth for most Americans.

Furthermore, when the uncertainty surrounding the housing market fades and  the market rebounds, homeownership may in fact transform that pride to profit  through a home sale.


Jonathan Slappey is a writer for  Quicken Loans, a company whose clients believe it’s Engineered to Amaze.   Interested in being Amazed by us? Read trusted reviews at our  review site.

Read more: http://www.quickenloans.com/blog/top-5-reasons-buy-home-2012#ixzz1jGi59Jkl

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