Americans who have money to set aside for the next 10 years would choose to invest in real estate as opposed to any other type of investment. This is according to Bankrate’s latest Financial Security Index Poll.
Americans were asked to answer the following question:
“What is the best way to invest money you wouldn’t need for 10 years or more?”
Real estate emerged as the top choice. It consists of 28% of all respondents. This rate is 3% higher than last year!
Cash investments such as savings accounts and CDs came in second with 23% and the stock market at third with 17%.
For these results, the article points out several reasons:
“After bottoming out at the end of 2011 following the worst housing collapse in generations, home prices have gone gangbusters recently, climbing back above their record pre-crisis levels. Prices jumped 6.6 percent during the 12 months that ended in May, according to CoreLogic.”
The article added that when you toss in persistently low-interest rates, tax goodies that come with owning a mortgage, and the psychological payoff from planting your roots it’s no wonder real estate remains popular.
It also revealed that Bankrate’s Financial Security Index has hit its third-highest level since the poll’s inception in December 2010.
Owning a home makes sense for financial and non-financial reasons. It’s great to see that Americans still believe that owning a home is the best investment.
At Burgess Group Realty LLC, we help our clients make sound long-term investments.
CALL Catherine at 303.506.5669.