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Homeownership still part of the American Dream

Owning a home is still part of the American Dream.

Owning a home is still part of the American Dream.

The National Association of Home Builders recently conducted a survey regarding Americans' feelings in relation to the current real estate market. The results discovered that a majority of country residents still view owning a home as part of the American Dream and many "see beyond the immediate housing market to the enduring value of homeownership."

Of those responding to the NAHB's survey, 75 percent believe owning a home is worth the market's continual fluctuations, while 95 percent of current homeowners expressed their pleasure with their home purchase.

"People believe overwhelmingly that owning a home is an anchor to the American Dream. It's an anchor to your retirement, and it's an anchor to your personal economic well-being," Lake Research Partners president Celinda Lake told the International Business Times.

While the survey revealed a positive mindset among potential homebuyers, the Federal Reserve chairman expressed opposing vibes at a recent conference. According to the chairman, Ben Bernanke, tighter lending standards have prevented a large number of Americans from moving. Furthermore, because of the uncertainty of the job market, many others aren't willing to gamble on real estate yet. Bernanke summarized the current real estate market as "troubled."