Despite the bursting of the housing bubble and the resulting economic collapse, an overwhelming number of Americans still view homeownership as a remarkable investment opportunity. Fully 81% of adults agree that buying a home is the best long-term investment a person can make. Just 17% of Americans disagree either somewhat (12%) or strongly (5%) that homeownership is the best long-term investment. Enthusiasm for home buying has damped somewhat since the recession, though. Currently, 37% “strongly agree” that homeownership is the best investment a person can make and 44% “somewhat agree.” In a 1991 CBS News/New York Times survey, nearly half of all Americans (49%) strongly agreed with this statement while 35% somewhat agreed. Despite the near universal optimism about home ownership, homeowners are not blind to the current downturn. Among adults who own their home interviewed in the current survey, half (47%) say their home is worth less now than before the recession began, and 31% say its value has stayed the same. Still, fully 82% of homeowners who say their home is worth less now than before the recession began either strongly (37%) or somewhat (45%) agree that homeownership is the best long-term investment a person can make. Read More
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