For the second straight year, more Americans believe that real estate is a better long-term investment for their money than standard investment vehicles such as stocks and mutual funds, precious metals, savings accounts, or bonds.
According to recent results from an annual Gallup poll, 31 percent of respondents said they favored housing as the best option for long-term gains. By comparison, 25 percent preferred stocks and mutual funds. Gold—the top pick in 2011 and 2012—slipped to third, followed by savings accounts/CDs at 15 percent. Bonds were fifth at six percent.
The results show a shift in confidence in the real estate market. In fact, real estate was the top choice among all major gender, age and income groups surveyed by Gallup. According to RISMedia, the results coincide “with a number of recent initiatives set to increase opportunities for a diverse range of buyers,” including a federally backed three-percent down payment program and the reassessment of credit structures that have historically prevented borrowers from obtaining a mortgage.”