It’s no surprise that a survey of this type would turn out these results.
Even in todays market of great deals to be had I still run into those who say they will wait to buy. What are these people waiting for? I think that some who chose this way of thinking believe that home ownership is beyond their reach. Perhaps they have tried to find their dream home, had financing all in place but had an incompetent agent on their side and gave them a bad home buying taste. If you are here and are one of those people I apologize that you had not utilized my services first and have probably missed out on your pice of the pie. But I stress, There is no better time to buy than today. With the recent First Time Home Buyer Tax Credit setting to expire you may have already missed out on that; Don’t be too sad just yet, Gov Arnie has signed a bill (AB 183) to give Home Buyers a $10,000.00 tax incentive spread throughout 3 years.
Well enough of me pondering on, heres the survey from Fannie May.
Survey:
Despite the challenges facing the housing market, 65 percent of Americans would still prefer to own a home rather than rent, according to a Fannie Mae national housing survey.
In addition, 43 percent of respondents cite safety as a key reason to buy, while 33 percent are motivated to buy because they perceive schools to be better in neighborhoods where most homes are owned by their residents.
The survey results released Tuesday show that both buyers and renters are more cautious than they used to be. About 23 percent of renters say they will buy a home, but later than they once hoped.
A full 70 percent said they believe buying a home continues to be one of the safest investments available. This compares to 74 percent who think putting money into a bank account is safe. Only 17 percent believe buying stocks is a safe investment.
Also, 60 percent believe that it will be harder for them to get a mortgage to purchase a home than it was for their parents.
Source: Fannie Mae National Housing Survey (04/06/2010)
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