Americans’ powerful belief in homeownership as an investment stems from the the fact that it is a reliable and lucrative way to build wealth. Even with economic fluctuations and drops in market price, real estate values recover and appreciate. In addition, many Americans continue to see returns over time on homes and property. This longstanding track record of consistent returns has contributed to the belief by Americans’ that purchasing a home is a great investment.
The Federal Reserve Bank (The Fed) recently released their 2019 Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.
The Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.
This coincides with a recent Gallup survey of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold.
Americans’ powerful belief in homeownership as a good financial investment continues to grow as the housing market returns to normalcy. Do not miss an opportunity to build equity in an investment with a solid track record like real estate.