Homeownership: “The Reports of My Death Have Been Greatly Exaggerated”
As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.
Neighborhoods within the 94519 zip code include:
- Dana Estates
- Monte Gardens
- Holbrook Heights
- Wren Avenue
- El Monte
- San Vincente
These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.
Today I would like to talk about: The Increasing Home ownership Rates That We See Today
The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in the country increased for the first time in thirteen years.
A story in the Wall Street Journal gave these new homeownership numbers some context:
“The annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to boost homeownership. This time, what’s driving the market is a shift in favor of owning rather than renting.
‘This is market, market and market…There’s no government incentive program in sight that is having this effect,’ said Susan Wachter, a professor of real estate and finance at the Wharton School at the University of Pennsylvania, ‘This is back to basics.’”
In a separate report comparing the rental population in America to the homeowner population, RentCafé also concluded that the gap is now shrinking.
“Undoubtedly, the recession had a great impact on homeownership…However, it looks like it takes more to discourage Americans from buying a house than that.
As the years go by, it seems more and more certain that the fact that renting has seen a sudden gain in popularity is more a reaction to the economic crisis than a paradigm shift in the Americans’ attitude toward housing.”
America’s belief in homeownership was also evidenced in a recent survey by Pew Research. They asked consumers “How important is homeownership to achieving the American Dream?”
- 43% said homeownership was essential to the American Dream
- 48% said homeownership was important to the American Dream
- Only 9% said it was not important
Homeownership has been, is and will always be a crucial element of the American Dream.
*Pictured Above – Mark Twain’s home in Hartford, Connecticut.
Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.
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