Homeownership as the cornerstone of the American dream might be going the way of disco dancing and pet rocks. The housing crisis has left many former homeowners jaded, wary of lenders and tasked with rebuilding their credit after losing their homes.

“I think homeownership is not always a good thing in that it’s not necessarily the best thing for everybody,” said Daren Blomquist, spokesman for the foreclosure tracking firm RealtyTrac. “And I think that’s realized from a policy perspective as well as individuals realizing, ‘Hey I don’t really need to own a home, there are other alternatives to my American dream I can pursue.’ ”