Archive for Friday, June 26, 2009
Homeowning not seen as wealth strategy
June 26, 2009
Advertisement
Chicago — Nearly half of American adults who participated in a recent survey said they no longer believe that homeownership is a realistic way to build wealth, the National Foundation for Credit Counseling reported this week.
The findings, from a recent survey of about 1,000 people, run counter to the long-held perception that a home should be part of a person’s financial strategy, the NFCC said.
“It had been considered the cornerstone of wealth building,” said Gail Cunningham, spokeswoman for the NFCC. Homeownership had been a significant tool that most people felt was necessary to prepare for retirement, she said in a phone interview.
The survey was conducted because the organization was curious about future implications of living through the mortgage meltdown, she said. Conditions have caused many people to change their attitudes about housing, she said.
More like this
- Repayment plans can ease credit card debt April 23, 2009
- Poll shows cardholders taking control of their credit October 14, 2009
- s resolution to become financially fit January 7, 2002
- Make a New Year's resolution to become financially fit January 7, 2002
- New programs help consumers cut debt April 28, 2009
Top ads RSS
Marketplace
Arts & Entertainment · Bars · Theatres · Restaurants · Coffeehouses · Libraries · Antiques · Services
- Blog: Why Do People Repeat Falsehoods? November 20, 2009 · 53 comments
- Nation has right to ask ‘why?’ November 21, 2009 · 36 comments
- Blog: Acting (Some Days, Most Days, Frequently And Occasionally) President Dan Wildcat Is Off Campus This Week . November 19, 2009 · 17 comments
- Blog: We Noticed November 19, 2009 · 123 comments
- Blog: Palin Book Could Be Your Cheapest Source For Winter Fuel November 20, 2009 · 75 comments
- Mangino denies validity of former player allegations November 19, 2009 · 158 comments
- Leaders offer tips for chancellor’s successful tenure November 21, 2009 · 5 comments
- Nothing to lose: Reeling KU huge underdog for a change November 21, 2009 · 21 comments
- Palin stirs feminist ambivalence November 21, 2009 · 12 comments
- Four decades in crisis mode November 21, 2009 · 17 comments
- Mangino's contract outlines probe November 21, 2009
- Four decades in crisis mode November 21, 2009
- On target November 21, 2009
- A sad story November 19, 2009
- Lawrence couple excel in triathlons November 21, 2009
- Commission votes against including gender identity in Lawrence's anti-discrimination policy November 19, 2009
- Center for East Asian Studies celebrates 50 years of accomplishments November 21, 2009
- 75-year-old Topeka area man dies from H1N1; LMH reports flu activity November 20, 2009
- Meier mature, classy November 21, 2009
- Health and stress affect grades November 10, 2008
Post a comment
Requires free LJWorld.com registration. Register or log in below.
Read our full policy. Also, read about banned accounts and harassing comments.
Post a blog entry
You have to be logged in to blog on LJWorld.com. Please log in or sign up.
Learn more about blogging on LJWorld.com.