(San Francisco, CA, Tuesday, July 23, 2019) – For most Americans, owning a home is perceived to be a sign that someone is a “successful adult,” on par with having a career. In fact, home ownership is much more widely equated with being a successful adult (over double) than having children or getting married.
Americans equate homeownership to positive attributes, such as an investment, security, family and success.
Over seven in 10 Americans say they would give up something to save for a down payment, including dining out, going to events and vacations.
Nearly half of Americans who are saving to buy or renovate a home have done work outside of their primary job to supplement their income to pay for it, specifically selling items online, starting a small side business, dog sitting/walking and driving for a rideshare company.
This survey was conducted online within the U.S. by The Harris Poll on behalf of Wells Fargo between April 17 and April 29, 2019 among 1,004 adults 21 and older in the U.S., of which 211 are Millennials (ages 21-38). The sample include 701 homeowners and 303 non-homeowners. Figures are weighted where necessary by age, gender, race/ethnicity, region, education, household income, marital status, employment, size of household, and homeownership status to bring them in line with their actual proportions in the population.