Wednesday, June 17, 2020 / by Teresa DiPeso
Real estate continues to rank at the top of the list of the best long-term investments for Americans, according to the latest annual poll from Gallup. About 35% of Americans picked it as their favorite investment, which has been the case since 2013.
Meanwhile, Americans are less likely to view stocks or mutual funds as the best long-term investment, particularly waning after the COVID-19 pandemic struck the economy this spring. Twenty-one percent of Americans picked stocks as the best investment, down 6 percentage points from a year ago and at the lowest reading since Gallup started collecting such data in 2012.
Only about one in six Americans view savings accounts or CDs (17%) and gold (16%) as their favored long-term investment.
During the subprime mortgage crisis in 2011 and 2012, real estate was viewed as more risky, and gold finished first as the best long-term investment during that time. But as real estate values continue to climb in recent years, gold has faded and real estate’s investment potential has steadily risen in popularity.
If you are thinking about investing in a new shore home, now may be the time. Interest rates are low and unlike stocks and CD's a home at the shore is something you can touch and enjoy for years to come. Call our team today and let's discuss the options that are best for you.