Americans Still Feel Home Ownership is a Great Investment
The National Association of Home Builders recently surveyed 2,000 bipartisan, American voters regagrding home ownership. Their findings reveal that roughly 75% of Americans feel 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.”
Regardless of their situation (whether they were upside down on their home, renting, etc.), the survey found that Americans are still optimistic about home ownership. The survey found that 81% of those who own their homes outright, 76% who have mortgages, 67% of those renting, and 65% whose mortgages are underwater still felt that home ownership is the “best long-term investment” one can make.
The survey also revealed that 80% of Americans would recommend buying a home to a friend or family member who was just starting out. In fact, 78% of home owners who are currently underwater on their mortgage (owe more than their home is currently worth) said that they would recommend home ownership to family or friends starting out.
The survey suggests that many are hopeful about the prospect of buying in the future as well. 73% of those surveyed who don't currently own said that their goal is to eventually buy one.
The NAHB survey also found:
- 8% of Americans oppose eliminating the mortgage-interest deduction and 63% oppose lowering it.
- 57% of those surveyed say they are less likely to support a candidate for Congress who wanted to eliminate the mortgage-interest deduction.
- Respondents were split on about requiring a 20% down payment to purchase a home: 49% were for it and 49% were against it.
Source: “The Cook Report: The Home Front,” National Journal (June 2, 2011)
To view the many affordable homes for sale in , including Murrieta, Temecula, Lake Elsinore, Hemet and Perris, visit See Temecula CA Homes, email me, or call me at (951)294-7917.
Penny Sargent provides an exceptional level of real estate services to home buyers and sellers in the Temecula Valley. Visit www.SeeTemeculaCAHomes.com to search for homes in Murrieta, Temecula, Lake Elsinore, Hemet, Perris, Menifee, Sun City, Wildomar, Winchester and surrounding communities. If you or anyone you know is looking to buy or sell real estate in our area, contact Penny Sargent, (951) 294-7917 DRE#01180805 Keller Williams Realty.
*Information deemed reliable but not guaranteed.
Comments(0)