Right now, health and the economy are on everybody’s minds. The good news is that the resurgence of activity in the housing market is positioned to help our economy recover.
This is far different from 2008, when we saw the housing market hold our economy back. Even with economic shifts caused by the pandemic, the U.S. housing market has remained strong and stable. Housing, this time around, didn’t cause the recession — and it could help pull us out of it.
The #1 investment is the only one you can live in
Porch.com, the renovation network designed to help homeowners with their projects, conducted a recent (pre-COVID) survey of Americans that asked:
“What do you believe is the safest investment over the next 10 years?”
Coming in at number one was U.S. housing. This investment beat out other options like stocks, bonds, savings, and even gold.
This graph shows the top five investments that Americans chose:
Ready. Set. Home. Get prequalified remotely, and you can start growing your most important investment.
These findings match the results from two recent surveys:
- For seven years in a row, Americans have selected real estate as the “best” investment, confirmed by a 2020 Gallup survey.
- Over 70 percent of Americans said owning a home is a good financial investment — a percentage that has continued to rise, the 2020 Consumer Expectations Housing Survey from the Federal Reserve Bank reported.
All three surveys show that Americans still see homeownership as an excellent investment, a belief that may only get stronger as the economy recovers. ATTOM Data’s U.S. Home Equity & Underwater Report for Q1 of 2020 also found that 14.5 million homes in the U.S. are equity-rich — meaning, homeowners are four-times as likely to have a surplus of equity than to be underwater.
A simple way to start building your wealth right now
Today’s homebuyers are ready to move, after spending months sheltering in place. Connect with a local loan officer who understands that, when it comes to growing your investment, there’s no time to waste. Cornerstone’s beating the industry average and getting our borrowers closed over four weeks faster.*
*“Origination Insight Report.” Ellie Mae, April 2020.
For educational purposes only. Please contact your qualified professional for specific guidance.
Sources are deemed reliable but not guaranteed.