Americans Who Consider Home Owning Safe Investment Declining
According to a survey released Monday by Fannie Mae, less than two-thirds of Americans currently consider owning a home a safe investment, compared to four-fifths of Americans who felt that way less than ten years ago. The attitude, insiders say, will likely lead to rising rental costs as more people choose renting over buying.
The report comes from the largest provider of US home mortgage funds, Fannie Mae, which was created in the 1930s to promote American homeownership. According to Fannie’s National Housing Quarterly Survey, only 64 percent of Americans at present think owning a home is a safe investment, down from 70 percent as the beginning of 2010 and considerably less than the 83 percent who had that attitude in 2003.