Pew Survey Shows Homeownership Is Still Popular
Wednesday, April 13, 2011 at 1:23PM Despite the decline in housing prices, the vast majority of Americans still believe buying a home is the best investment they can make, according to a nationwide survey released Monday.
A survey of 2,142 adults by the non-profit Pew Research Center found that 81 percent agree that buying a home is the best investment, nearly identical to a similar poll taken in 1991.
The survey also found that 82 percent of homeowners who said their home is worth less now than it was before the recession strongly or somewhat agree that homeownership is the best long-term investment a person can make.
And while some pundits have speculated that the real estate downturn will lead to more people deciding to rent in the future, the Pew poll debunks that view. Fully 81 percent of renters surveyed said they plan to buy a house at some point, while just 17 percent plan to continue renting. Just 24 percent of renters rent out of choice, with the remainder doing so because they can’t afford to buy a home.
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