HO910 The Mind of the Homebuyer: How Consumers Decide and Act

The homeownership market has changed. Gone are the days when traditional barriers to purchasing a home were easily eliminated. These days, consumers recognize the financial implications of owning a home and, more than ever, they are examining their readiness and capacity to buy. How do potential buyers determine if homeownership is the right financial decision for them? What influences their decisions to seek help with homeownership education and counseling, budgeting, credit management and foreclosure intervention assistance? What factors shape decisions on type of loan, home size and neighborhood?

This symposium will explore how consumer actions toward home buying have changed in the current economic environment, the key factors that may now control their purchase decision and why understanding what really causes behavior change is important in designing and marketing homeownership programs.