Voters Place a High Value on Home Ownership

by on February 11, 2012

By an overwhelming margin, American voters strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers obtain affordable 30-year mortgages, according to a national survey conducted on behalf of the National Association of Home Builders.  The survey gauged voters’ attitudes towards homeownership and housing policy issues.

The poll shows that three out of four voters – both owners and renters — believe it is appropriate and reasonable for the federal government to provide tax incentives to promote homeownership. This sentiment cuts across regional and party lines.

Highlights of the survey include:

  • Two-thirds of respondents say that the federal government should help home buyers to afford a long-term or 30-year, fixed-rate mortgage.
  • Nearly 75 percent of voters oppose eliminating the mortgage interest deduction.
  • Sixty-eight percent would be less likely to vote for a congressional candidate who proposed to abolish the deduction.
  • Ninety-six percent of homeowners are happy with their decision to own, and 84 percent who are “underwater” expressed the same sentiment.
  • Job uncertainty and saving for a down-payment and closing costs are the biggest barriers to buying a home.

 

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