In generations past, growing up and owning a home was often considered a sure thing in the minds of America’s youth. The dream of home ownership seems to have fallen by the wayside over the years in favor of easy rental options, but new reports show that owning a home is headed back to the top of the American wish list.

A Bright Future for Homeowners

While homeownership is dismal right now with numbers at the lowest levels in 50 years, there are definite reasons for renewed hope. A recent report from the Mortgage Bankers Association indicates that the next decade will see the creation of around 16 million new households. Of those, around 13 million are expected to purchase their own home, and only around 3 million will choose to reside in rental properties.

This expected surge in the formation of households is largely attributed to the greater numbers of aging Americans who are living longer and healthier lives. Baby boomers over the age of 60 are expected to make up about 13 million new households, while young people just starting out may account for around 5 million new households in the coming years.

Find Your Dream Home Today

You deserve to enjoy a home of your own, and this is a great time to start looking for the home of your dreams. Contact your local real estate agent today, and you can plan to start looking at homes in your price range right away.