Americans have favored buying over renting, even during the recent Great Recession, and this year is no different. The 2013 National Housing Pulse Survey, by the NATIONAL ASSOCIATION OF REALTORS®, found Americans overwhelmingly believe owning a home is a good financial decision, and a majority of renters say homeownership is one of their highest priorities for the future.
During the recession, much media coverage of homeownership focused on the idea that lots of people thought renting was much smarter than buying. But that wasn’t necessarily the case as a look back shows.
You can interpret that dip two ways. Some would say homeowners were resilient as prices declined. Others would say the recession was a wake up call for investors who viewed the real estate market as a short-term investment.
Regardless of which way you see it, most of us have returned to the much more realistic viewpoint that real estate is a solid, if long-term, investment.
For more information on owning or renting your next home:
Contact me at 708.966.9065 or Regina@ReginaWallace.com
Prospect Equities, Inc.