Sunday, April 11, 2010

Interesting survey results. Do you agree?

Reprinted from: Daily Real Estate News April 7, 2010
Survey: Americans Prefer Owning Over Renting

Despite the challenges facing the housing market, 65 percent of Americans would still prefer to own a home rather than rent, according to a Fannie Mae national housing survey.

In addition, 43 percent of respondents cite safety as a key reason to buy, while 33 percent are motivated to buy because they perceive schools to be better in neighborhoods where most homes are owned by their residents.

The survey results released Tuesday show that both buyers and renters are more cautious than they used to be. About 23 percent of renters say they will buy a home, but later than they once hoped.

A full 70 percent said they believe buying a home continues to be one of the safest investments available. This compares to 74 percent who think putting money into a bank account is safe. Only 17 percent believe buying stocks is a safe investment.

Also, 60 percent believe that it will be harder for them to get a mortgage to purchase a home than it was for their parents.

Source: Fannie Mae National Housing Survey (04/06/2010)


Sue said...

I am a lifelong renter and in my mid 40s am happy to remain a renter.

Almost everyone I know who owns a home does nothing but b*tch about everything that goes wrong with it and how much money it costs. Sure, there are pros to it, but I rent a house for less than 50% of what the mortgage would be on the same house, and if I owned it, I would then have to come up with the money for repairs as needed.

Sure, I risk my landlord asking us to move at some point, but I also can give 20 days notice and leave without worrying about a thing.

I get a lot of criticism from family and friends who tell us we're wasting our money on renting, but we're happy, and that's all that matters!

Alice Kuder said...

Well said, Sue. I rented happily for many years before buying and probably would have continued to do so if a great opportunity hadn't come along. Owning is not for everyone. You obviously know all the pros and cons and have made a good decision for yourself. I do sometimes long for the day when I could just call the landlord to fix whatever was wrong.