Fannie Mae Survey Shows Americans Favor Owning Over Renting
April 13, 2010 - In a recent housing survey conducted by Fannie Mae, nearly 65% of Americans revealed that they prefer owning a home opposed to renting.
"Consumers are still committed to owning a home, but are showing increased cautiousness," Doug Duncan, Chief Economist and Vice President of Fannie Mae, announced in an online statement last week.
Duncan continued to affirm that consumers are "adopting a more realistic, long term approach and are less willing to take risks."
Three quarters (75%) of renters believe that owning makes more sense than renting because they are then protected from rent fluctuations. Several of those polled also believed that a home was a good investment in the long run.
43% of Americans polled believing that safety was a large reason to buy; roughly 70% said they believed that buying a home was one of the safest investments available.
The tone of the survey was wary of the housing market, yet optimistic about home ownership. This recent focus on sustainable housing could bode well for the economy's future.