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Report: ‘American Dream’ Shifting Away from Homeownership
The idea that the ‘American Dream’ involves homeownership is continuing to shift, according to a recent report from privately-held rental platform Zumper. The firm’s 2019 “State of the American Renter” report found that overall, 32% of respondents do not believe that the American Dream involves homeownership.
The report found that one in five respondents do not have plans to buy a home in their lifetime, and only 30% of respondents said they planned to buy a home in the next two years, down 14 points from the 2018 edition of the report.
“Over the past several years, we have started to see a shift toward renting becoming an integral component of the American Dream,” said Anthemos Georgiades, CEO of Zumper. “Despite high rent prices across the country, renting is still proving to be more cost effective and allows renters to prioritize flexibility over commitment.”
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