Home Ownership is a priority for most Americans
Despite an unsteady economy and the recent housing down-turn, many Americans still value homeownership and consider it to be more than a simple financial investment, according to a recent Fannie Mae National Housing Survey. Other findings:
- Eight out of 10 Americans believe homeownership is important to the economy.
- 64 percent think it is a good time to buy a house, compared with 66 percent who said it was a good time to buy in 2003, before home prices peaked.
- 37 percent of Americans think housing prices will rise and 36 percent think prices will stay the same over the next 12 months.
- 60 percent believe buying a home today is harder than it was for their parents, and 68 percent think it will be even harder for their children.
- Seven out of 10 homeowners say they believe buying a home continues to be one of the safest investments available, while 74 percent believe putting money into a savings or money market account is safe.
- 65 percent say they prefer owning over renting, citing nonfinancial reasons such as neighborhood safety (43 percent) and quality of local schools (33 percent).
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