Americans’ Growing Desire to Own a Home

The desire of Americans to own a home has grown stronger in the past four years, according to the 1996 housing study released by the Federal National Mortgage Assn., better known as Fannie Mae.

For example, 91% of Americans surveyed this year said they would switch to a less expensive automobile if it meant they could own a home. That’s up from 81% of those responding to the same question in 1992. More Americans also said they would give up vacations and drive farther to work if they could own a home.

A total of 85% of those responding to the telephone survey this year said they would give up a two-week vacation, up from 71% in 1992. Americans willing to endure a longer commute for the sake of homeownership grew to 81% this year from 63% four years ago.

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Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com