In today’s environment, do you think buying Santa Cruz real estate has become less popular than renting? If so, you’ll probably be surprised to learn that 81% of American adults still think that buying a home is the best investment a person can make.
In comparison, two decades ago, a CBS News/New York Times survey found that 84% of American adults thought buying a home was the best investment a person could make. That’s only a 3% decline in 20 years.
The new information is based on two nationwide studies performed this year by the Pew Research Center and Trulia, a real estate website. The Pew Research Center’s survey sample included 2,142 adults. Fifty-seven percent of the people who answered the survey own a home, 30% rent and the remainder have other arrangements, such as living with family members.
Here are some other findings provided by the studies:
• Buying is more affordable than renting in 78% of America’s major cities.
• 81% of renters would prefer to own a home rather than continue to rent.
• 47% of homeowners say their home is worth less now than before the recession started. 31% say its value is the same. 17% say their home is worth more than before the recession.
The bottom-line? In most areas of the country, even though home prices have declined in the past four or five years, homeownership is still preferred and is also a practical financial decision.
If you’re ready to buy Santa Cruz real estate, I can help you find a home that you’ll love in a price range that fits your budget. To find the Santa Cruz real estate of your dreams, give me a call today at 831-662-6522 or email me at Lauren@LaurenSpencer.com.
Please visit my website for more information at www.MySantaCruzRealEstate.com.
Pew Research Center
America’s major cities