The margin of error for overall responses is less than 3 percent. In order to be a homeowner, not a renter, people are even more likely to make big sacrifices today than in the first Fannie Mae National Housing Survey. For example, while in 1992 respondents indicated by a three to one margin that they would accept living further from work if it meant they could own, not rent, this year the margin has increased to better than five to one. Americans agree that a home is a good investment period. Even when told that home values may increase much more slowly in the 1990s, an overwhelming number of Americans say owning a home is a good investment, and better than renting.
People consider homeownership a good social investment, as well as a good personal investment.
For low to moderate income renters, owning their own home is the most important goal in their lives. For owners, having achieved that goal, other goals seem more important. Among low to moderate income renters, no other item on the list is significantly higher. Among owners, only 26 percent consider homeownership the most important goal they had in their life fifth out of six goals. The difference between owners and renters reconfirms that homeownership is most important for those who have not yet attained it, or are not sure they can.