The waning American dream?
A recent Pew poll that phoned over 2,000 Americans last month revealed that Americans still have faith in real estate, with 80% of respondents indicating that they believe a home is the best long term investment a person can make.
Not surprisingly, the older the respondent, the stronger their belief in the soundness of real estate as an investment.
According to the study, “Homeowners are not blind to what has happened to home prices, nor are they expecting a speedy recovery… about half (47%) say their home is worth less now than before the recession began, and 31% say its value has stayed the same. Just 17% say their home is worth more.”
It appears that the white picket fence American dream of homeownership isn’t dead, but respondents weren’t ignorant to the continuing bad news in the real estate sector.
It appears that Americans are shaken but haven’t lost faith in real estate. Below are the charted results of the Pew poll: