Who Buys Homes? Homeownership by Profession

Casey Fleming

Here’s an interesting article. In today’s Marketwatch column Amy Hoak explores which professions are more likely to own homes.

Who Buys Homes? Not Everyone.
Who Buys Homes? Not Everyone.

So, who buys homes? At first glance the list is a little surprising. While you would think that income level would be the primary driver of homeownership rates, that isn’t the case.

In fact, a factor that appears to play a much larger role in whether or not someone owns a home seems to be the stability of their job and connection to the community.

Firemen are likely to become homeowners
Firemen are likely to become homeowners

Among the professions most likely to be homeowners are Optometrists and Dentists (not surprising) Farmers (not at all surprising) and power station operators. (There’s a category for that?)

More surprising are the firemen, inspectors, toolmakers and die-makers. Somewhere in the middle are airplane pilots and navigators.   Locomotive engineers made the top ten as well. I’m not sure I get that one, but maybe they have similar lifestyles as airplane pilots.

Bartenders are not likely to buy homes, but they pour great drinks.
Bartenders are not likely to buy homes, but they pour great drinks.

The least likely homeowners are dancers and dance teachers. (!) I didn’t see that one coming. Then come motion picture projectionists (again, there’s a whole category for that?) and then waitresses and waiters – that one I get. These jobs are all fairly transient – it is easy to quit in one city and pick up in another – so desiring the flexibility that renting provides makes sense.

The take-away is that folks who work in professions where one tends to hold the same job for a long time, depends on the community for clients, or has strong ties to the community are most likely to become homeowners.

To my real estate partners – does this surprise you? Are the findings consistent with your experience?

You can read the full article here.

Casey Fleming, Author The Loan Guide: How to Get the Best Possible Mortgage (On Amazon)
Mortgage Advisor, C2 FINANCIAL CORPORATION
408-348-3442 mobile
 
Follow me on Twitter for interest rate updates: @TheLoanGuide
 
NMLS 344375 / DRE 00889527

Leave your thought