The American Dream Survey
John goes over the American Dream Survey that caught his eye earlier this week.
JOHN: Hey, guys. John Jones here with another edition of Tuesday Morning Coffee. Today, I’m going to discuss an interesting survey I saw this week done by Trulia, which is a national home search engine or search engine for finding real estate homes. Most people know about it. And it’s called the Trulia American Dream Survey.
And the survey asked a series of questions, but two of the key questions or two of the things that I took away from this that gives me a lot of optimism on signs of housing demand is one of the questions was: What do you think is one of the best long-term investments you can make? Fifty-seven percent said owning a home. It was just above 52% said putting money away in a 401(K) or some type of retirement account. Twenty-nine percent said purchasing mutual funds. Twenty-six percent said buying gold.
Twenty-five percent said investing in the stock market. Fifteen percent said buying government bonds. Eleven percent said keeping cash under the mattress, which probably would have been a good one here lately. And then 8% other things. So 57% say owning a home. Whether they’re correct or not is not really the point of this. It’s the perception. That they think owning real estate is a good long-term investment. And as we know, it is.
Eighty percent of homeowners plan to buy another home in the future. So there’s another reason for optimism that so many people are thinking forward, that they will be buying a home in the future. So I just thought it was an interesting survey, one that gives me a little hope that not everybody that’s out there is doom and gloom and that people understand that real estate is a terrific buy at this time and over time a terrific investment opportunity, as we see that over 80% of the people surveyed say that they will be buying a home in the future.
So anyway, just a little food for thought. I hope everybody’s having a great fall break, enjoying your time off if you are so lucky to get that time away, and we’ll see you next week.