Despite an unsteady economy and the recent housing downturn, many Americans still value homeownership and consider it to be more than a simple financial investment, according to a recent national housing survey. Other findings:
- 8 out of 10 Americans believe homeownership is important to the economy.
- 64% think it is a good time to buy a house compared with 66% who said it was a good time to buy in 2003, before home prices peaked.
- 37% of Americans think housing prices will rise and 36% think prices will stay the same over the next 12 months.
- 60% believe buying a home today is harder than it was for their parents and 68% think it will be even harder for their children.
- 7 out of 10 homeowners say they believe buying a home continues to be one of the safest investments available, while 74% believe putting money into a savings or money market account is safe.
- 65% say they prefer owning over renting, citing non-financial reasons such as neighborhood safety (43%) and quality of local schools (33%).
- 93% of homeowners with fixed-rate loans and predictable payments say they are most satisfied than those with other types of mortgages.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors (949) 753-7900