RYE, N.Y., Feb 22, 2012 (BUSINESS WIRE) — Despite a prolonged downturn in the housing market, real estate is still the best long term investment, according to 84% of respondents in OwnAmerica’s recent survey on real estate investing. Comparatively, stocks/mutual funds, bonds and savings accounts were ranked best by only 9.9%, 4% and 2%, respectively.
Among the respondents who have invested in real estate, 81.6% say they have made money and 82% expect real estate values to “definitely” appreciate over the next ten years. (53.5% believe property values will definitely increase over the next five years.)
“The most significant outcome of this survey is the overwhelming confidence in a long-term recovery. People understand now, more than ever, that building wealth in real estate takes time.” says OwnAmerica CEO Gregory Rand.
Investors cited Florida (15.4%), California (11%) and Virginia (8.8%) as the states in which they are most interested in investing. Others to make the list include: Colorado, North Carolina, New York, New Jersey, Pennsylvania, Nevada and Arizona.
“The unique nature of this market today has created a perfect scenario for investors — dropping prices and rising rents,” notes Rand. “As a result, there are hundreds of cities and towns across the U.S. that have become positive cash flow markets, meaning the rents exceed the costs to own. Investors can buy, earn double digit returns just on the rent and gain the appreciation when it comes.”
About: OwnAmerica.com is the leading provider of investor education, technology and marketing services to the residential real estate industry. CEO, Greg Rand, is the host of Rand on Real Estate on WABC Radio in New York, Where to Invest Now on the FOX Business Network, Dialogue on the Street of Wall Street Multimedia in China, author of Crash Boom! and 20-year residential real estate industry veteran.