NAHB Poll Shows Voters Place High Value on Homeownership

The National Association of Home Builders has released the results of a new nationwide survey that reveal how strongly American voters value homeownership. Here are some of the main trends revealed by the survey.

• Three out of four voters – both owners and renters — believe it is appropriate and reasonable for the federal government to provide tax incentives to promote homeownership.
• Two-thirds of respondents say that the federal government should help home buyers to afford a long-term or 30-year, fixed-rate mortgage.
• 73 percent of voters oppose eliminating the mortgage interest deduction.
• 68 percent would be less likely to vote for a congressional candidate who proposed to abolish the deduction.
• A majority of voters are also against proposals to reduce the mortgage interest deduction, eliminate the deduction for interest paid for a second home, limit the deduction for those earning more than $250,000 per year, scale back the deduction for home owners with mortgages above $500,000 and do away with the deduction for interest paid on home equity loans.

The survey was conducted on Jan. 2-5 by the Republican and Democratic polling firms of Public Opinion Strategies in Alexandria, Va., and Lake Research Partners in Washington, D.C., the comprehensive survey of 1,500 likely voters includes data from key political “swing areas,” including National Journal political analyst Charlie Cook’s swing House and Senate seats and Stuart Rothenberg’s presidential swing states. The survey, which has a margin of error of ±2.5 percent, is a follow-up to a similar national poll conducted last May.

“Even in a down housing market, homeownership remains a core American value, with the vast majority of citizens who do not currently own a home saying they want to buy a home,” said Bob Nielsen, president of the National Association of Home Builders and a home builder from Reno, Nev. “Those running for office in November need to understand that voters will not look kindly on any candidates who seek to dismantle the nation’s long-term commitment to homeownership.”

Among the poll’s other key findings:

• 96 percent of home owners are happy with their decision to own and 84 percent who are “underwater,” or owe more on their mortgages than their home is worth, expressed the same sentiment.
• 74 percent said that despite the ups and downs in the housing market, owning a home is the best long-term investment they can make.
• 78 percent of respondents said that owning their own home is very important to them.
• Job uncertainty and saving for a downpayment and closing costs are the biggest barriers to buying a home

Poll results can be downloaded at www.nahb.org/homeownershippoll.