75 Percent of Voters Still See Buying a Home as Best Investment

June 15, 2011 No Comments »

homes

Not all hope is lost for housing folks…

A new poll conducted by the National Association of Home Builders (NAHB) (don’t worry, they aren’t biased…) found that owning a home is still viewed as the best long-term investment.

An overwhelming 75 percent of the two-thousand likely 2012 voters polled chose housing above other options, such as a 401k, stocks, and savings accounts.

Additionally, 73 percent of voters who do not currently own a home aspire to eventually buy one.

And 95 percent who do say they are happy with their decision to own a home, and believe owning their own house is important.

The NAHB has been lobbying to keep homeownership accessible to Americans by promoting the mortgage interest deduction, which came under fire recently.

There’s talk that it could be reduced, though it likely won’t be completely eliminated.

And if candidates propose messing with it, voters will be far less likely to support them.

Most Americans support the deduction, despite the fact that eliminating it would help ease the federal budget deficit.

The home builders have also gone after the proposed Qualified Residential Mortgage, which aims to bring 20 percent down payments to the mortgage world again.

Most voters (92%) believe this measure would make it more difficult to buy a home, so it’s hard to see any candidate getting behind it.

Heck, very few people have any home equity these days, so the proposal faces an uphill battle.

The takeaway is that the people still believe in housing, which means a recovery will happen at some point.

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