and $1,70,000 have been imputed for the first and last income categories. We include the logarithm of the mid-point of the income category as a variable in the model. Mean household size is 2.92 with a standard deviation of 1.66 individuals. The percent of female is slightly more than males, but still the sample is almost equally split. Educational classification shows that HS and below forms the largest category (33.92%) and post-bachelors forms the smallest category (14.29%), with proportions decreasing as we move from the lowest to the highest educational category. Employment status shows that 61.98% are either employed full-time or part-time, while the remaining are unemployed, student or retired. With respect to race, the sample is predominantly white (71.87%), followed by African-Americans (15.12%) and all other races (13.01%). Geographic division shows that most of the sampled individuals lives in the South (45.69%), followed by West (22.68%), Midwest (17.79%) and Northeast (13.84%). The regional classification are as defined by the US Census Bureau. To measure exposure to financial distress, we include self reported financial condition pre and post the Great Recession. As expected, almost half the sampled individuals (45.41%) are financially worse-off post the economic downturn. 

Moving on to the response variable, Table 5 shows that more than three-fourth of the sampled individuals (82 . 77%) either somewhat or strongly agree that homeownership is the best long-term investment. So, US public opinion on homeownership remains largely un- shaken even after the housing meltdown and the Great Recession. Similar conclusion have be obtained using data from the Survey of Consumers collected by the University of Michigan and the National Housing Survey collected by Fannie Mae (Belsky, 2013). This is primarily because the financial benefits of homeownership makes owning more lucrative than renting especially in the long run. Two related articles that have studied the preference for home- ownership vs renting using binary models on survey data are Bracha and Jamison (2012) and Drew and Herbert (2013). Both studies find no fundamental shifts in attitude towards homeownership. 

We employ the FBQROR and BQROR models to analyze public opinion on homeown- 

