Americans Have Fallen In Love With Real Estate Again
May 7, 2014 
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It seems America has a new sweet heart. Move over Jennifer Aniston, here comes real estate. It has been creeping slowly back into the hearts of Americans ever since the crash of 2008. But like they say, absence does make the heart grow fonder. Fond enough that in a recent Gallup Poll Americans cited real estate as their number one investment when thinking long term.
These results are from the Gallup’s recent Economy and Personal Finances poll that asked Americans to choose the best option for long-term investments. Their choices? Real estate, stocks and mutual funds, gold, savings accounts and CDs, or bonds. The last poll was done in 2001 and gold was the favorite from the list.
We ♥ Real Estate
When we hit the subprime mortgage crisis in 2007 and we saw what some call the worst housing crisis follow in 2008, Americans were scared. But with the housing market has been improving and we aren’t as afraid to sell our homes anymore especially this year with home prices rising, This current improvement in prices may be why more Americans now consider real estate the best option for long-term investments. The love affair of real estate has come back into play.
It is important not to read too much into these results however. It is upper-income Americans that are much more likely to say real estate and stocks are the best investment, possibly because of their experience with these types of investments, and possibly because they have the disposible income to invest in these. Home ownership plays a part too. Upper-income Americans are most likely to say they own their home, at 87%, followed by middle (66%) and lower-income Americans (36%). Gallup found that homeowners (33%) are slightly more likely than renters (24%) to say real estate is the best choice for long-term investments.
Keep an Eye on the “Hipster Generation”
While Gallup’s latest results show growing confidence in investing in real estate Americans between 18 and 29 years old are almost evenly split. This age group is a very targeted audience with about one-quarter each saying real estate, stocks, gold, and savings accounts are the best choices for long-term investments. It is a generation of renters that is every Realtor’s dream to convert them to home owners, every last one of them.
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Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people’s expertise to achieve their own goals.
Erik Hitzelberger – who has written 194 posts on Part Time REI.
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