Consumers remain bullish on home as safe investment

Despite an epic downturn that could leave the housing market reeling for years to come, the vast majority of consumers, 70 percent, remain bullish on home buying as one of the safest investments, according to a recent Fannie Mae report.

by Broderick Perkins
© 2010 DeadlineNews.Com



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Deadline Newsroom - Just because homes aren't selling like hotcakes doesn't mean consumers have lost their appetite for a slice of the American Dream pie.

Despite an epic downturn that could leave the housing market reeling for years to come, the vast majority of consumers, 70 percent, remain bullish on home buying as one of the safest investments, according to a recent Fannie Mae report.

With only a handful of housing markets poised to recover and most housing markets still feeling around for the bottom, 65 percent of those surveyed continue to prefer owning over renting. And 64 percent say it's a good time to buy, a level surprisingly similar to the 66 percent voicing the same sentiment in 2003 -- just before the onset of the last boom market.

The optimism is, however, tinged with some pragmatic caution, according to findings of Fannie Mae's National Housing Survey, conducted between December and January.

But even as one in three of those surveyed said it is a very good time to buy a home, they also know it isn't easy. Sixty percent believe getting a mortgage is more difficult than it was for their parents, and 68 percent believe it will be even more difficult for their kids.

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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