Bankrate asked Americans to answer the following question:
"Which would be the best way to invest money you did not need for more than 10 years?"
Real Estate came in as the top choice with 25% of all respondents, while cash investments (such as savings accounts and CD's) came in second with 23%. The chart below shows the full results:
Sterling White, co-founder of Holdfolio, gave one reason as to why real estate may have ranked so high.
"Houses are tangible. You can physically see and feel the product. So you know where your money is going."
The poll also found that for the "26th consecutive month, Americans' sense of financial well-being improved when taking into account debt, savings, net worth, job security, and overall financial situation."
There are several reasons, both financial and non-financial, as to why homeownership makes sense. It is nice to see that Americans have returned to a belief in homeownership as the best investment.
I would love to chat with you about your dreams of owning a home in Irvine, or in the surrounding area. Contact me for some market reports and for some tips on timing.