Is real estate investment as good as gold? To 25% of Americans, it is. According to a recent Gallup poll, real estate is now tied with gold as the best long-term investment, up from 20% in April 2012 and 19% in August 2011.
The report on the survey says this view on real estate has improved thanks to the recovering market. But this isn't the first time that real estate has topped investment charts. In 2002â€”before gold was an option on the surveyâ€”50% of Americans said that real estate was the best investment. That perception dropped in 2008 at the beginning of the recession, with only 27% of Americans saying that real estate was the best investment with savings accounts gaining favor in the No. 1 spot.
Among demographics, 26% of men and 23% of women view real estate as the best investment. Twenty-six percent of Americans age 50-64 years old view it as the best, higher than the 18-29 range (23%), 30-49 range (24%), and 65+ (25%).
So while some Americans may be unaware of the real estate market's improvement, many still see the value of buying real estate as a long-term investment. And as the recovery continues, the report says that it's possible that investment preferences may continue to change.
Source:Â TAR, published 5/2/13