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American Teens Dream ... of Owning a Home

/ Source: CNBC.com

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What do American teens dream about when they ponder their future? Most of them think they'll own a home, according to a new study. The study, conducted for real estate service Better Homes and Gardens Real Estate, found that 97 percent of those ages 13-17 believe they will own a home in the future. That's compared with the 40 percent of millennials who said in an earlier Better Homes study that they expected to buy a home in the near term.

Lest anyone suggest that the survey's respondents are unaware of what it takes to be a homeowner, the study also found that the average teen has an impressively accurate understanding of the price of a home: Of the 97 percent who said they would own a home, they estimate paying on average $274,323 for their first one. The median cost of a new home in June was $273,500, according to the U.S. Census Bureau. Not only are teens significantly optimistic about their home buying, but 82 percent also said home ownership is the most important part of the American Dream.

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