The True Definition of Success?

June 21, 2022
The true definition of success
3 out of 4 Americans put homeownership above career and raising a family.

Nearly 75% of Americans say that owning a home is a more significant measure of achievement than having a successful career or even raising a family, according to a survey from Bankrate.com of about 2,500 adults. Seventy-four percent of survey respondents rated homeownership as the highest gauge of prosperity. It topped being able to retire (66%); having a successful career (60%); owning a car, truck, or other automobile (50%); having children (40%); and earning a college degree (35%). Older adults are more likely to rate homeownership highest, the survey finds.

Eighty-five percent of baby boomers and 78% of Gen X selected homeownership over other items compared to 59% of Gen Z and 65% of millennials, the survey shows. Most homeowners don’t have any regrets over their homeownership decisions. “Nearly three in four homeowners say they would still buy their current home if they had to do it all over again,” says Greg McBride, Bankrate.com’s chief financial analyst. “Paying down debt, building savings, and knowing the limits of what you can afford all provide the stable financial foundation on which ‘no regrets’ homeownership is built.” 

Source: The New York Times