It's no surprise that real estate is still the best long term investment. A random sample of –1,013 Americans —adults, ages 18+, living in all 50 U.S. states and the District of Columbia shows real estate is still perceived as the best investment for 2023. The real estate market has taken it's hit with rising inventories and steep mortgage rates (hence this rating has slipped from 45%.
Why? According to Lydia Saad, Gallup in May
"Americans’ perceptions of the value of different long-term investments vary from year to year according to short-term changes in these investments’ performance. When real estate or stock prices are high, their popularity as the best investment goes up, and the opposite is true when those prices are depressed. Gold tends to be the beneficiary when confidence levels in both real estate and stocks are down. This is typically during times of economic recession or uncertainty, as happened around the time of the Great Recession, and is happening again today."
Real estate is a simple pleasure that is measurable by opinion. The Pride of ownership and utility factor outranks it to other investments. I like how Freddy Mac weighs in on this in their home ownership blog (8/22) outlining how Real Estate allows you to
- Build Equity
- Stablize Monthly Payments (vs rent which is unpredictable)
- Obtain Tax Benefits
- Have the Freedom to create what you want
Homeownership may be accompanied by a list of to do's but it offers some of the most valuable lessons and investment successes I've ever experienced! Building your real estate wealth could be an excellent portfolio balancer and certainly raise your private enjoyment factor. There is comfort in the stability of an investment portfolio and the contentedness from improving your quality of life if you perceive the private enjoyment of your own home is important to you.
If you are thinking about moving and it is time to make a change, take time to value what your most valuable investment is worth (click here for a free home valuation)