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Home Ownership Still A Goal

America has not reached the peak of the foreclosure crisis. But a survey by Fannie Mae says that hasn’t hampered people’s dreams of home ownership.

North Carolina is among the ten states hit hardest by foreclosures this year - up there with Florida, California and Ohio.  Doug Duncan is Vice President and Chief Economist at Fannie Mae – the Federal National Mortgage Association.  He says their 2010 Own-Rent Analysis says no matter the person’s race, geographic region or income –aspirations of home ownership are strong.

"We again asked them, has the crisis affected your overall willingness to buy a home. 51-percent said no, 27-percent said yes, in fact it increased their likelihood. So they’re obviously focused on the affordability issues, such as very low interest rates and the decline in house prices."

However, Duncan says the survey also shows people are taking a more cautious approach to taking out a mortgage.

Leoneda Inge is WUNC’s race and southern culture reporter, the first public radio journalist in the South to hold such a position. She also is co-host of the podcast Tested and host of the special podcast series, PAULI. Leoneda is the recipient of numerous awards from AP, RTDNA and NABJ. She’s been a reporting fellow in Berlin and Tokyo. You can follow her on Twitter @LeonedaInge.
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