Home Ownership, Best Long-Term Investment

Seventy-five percent of Americans say that “owning a home is the best long-term investment they can make and is worth the risk of ups and downs in the housing market,” according to a new survey of 2,000 bipartisan voters by the National Association of Home Builders. Despite their situation — whether underwater on their home or even renters — the survey found Americans to be optimistic about home ownership. Eighty-one percent of those who own their homes outright, 76 percent with home loans, 67 percent of renters, and 65 percent who are underwater cited home ownership as the “best long-term investment.” When survey respondents were asked whether they’d recommend buying a home to a friend or family member just starting out, 80 percent of Americans said “yes.” Even home owners currently underwater — those who owe more on their loan than their home is currently worth — overwhelmingly (78 percent) said they would recommend home ownership to family or friends starting out. More buyers are coming up through the pipeline too. The survey found that 73 percent of those surveyed who do not own a home said their goal is eventually to buy one. Source: National Journal

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