When I was a young man my grandfather was giving me investment advice. I had made about $1500 that summer mowing lawns (hey it was the 70’s and we’re talking $10 per yard) and I asked him what I should do with it. He told me to let him buy me stock in the electric company because everybody needs electricity, and when I get enough money, invest in real estate! I was 11 so real estate was out at the time, but I will always remember him telling me that the wealthy folks in America own real estate. Well, 40 some years later, that still holds true.
The latest survey from The Federal Reserve Bank (The Fed) shows that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.The Fed’s 2019 Survey of Consumer Expectations Housing Survey also shows that it doesn’t matter into which category you fit. The results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.To back that up, Gallup did a recent survey of Americans showing that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold.
So here’s the deal, Americans’ strongly believe that owning a home as a good financial investment. So if you’re ready to take my grandfather’s advice and become one of those Americans, let’s talk.