A telephone survey questioning 2,142 adults revealed that about 81 percent of American adults hold homeownership as their top long-term investment. Homeownership and retirement both ranked above other financial goals and long-term investments including sending children to college and leaving an inheritance.
“The study results are surprising in that so many households still believe that homeownership is a good investment, even after the plunge in home values that has occurred over the past couple of years. The preference for homeownership has deep roots in the history of this nation, and apparently even a severe correction in house prices can shake Americans’ belief in homeownership only slightly,” said one housing economist.
The survey also asked participants whether or not they agreed that real estate investment is the best choice for long-term investments. 37 percent said they “strongly agreed” and 44 percent said they “somewhat agreed”. In 1991, 49 percent of study participants said they “strongly agreed” that investment in real estate was the best long-term investment.
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