Americans’ opinion on the value of the real estate as an investment is climbing. That’s according to an annual survey from Gallup. Not only is real estate viewed as the best investment for the ninth year in a row, but more Americans have selected it than ever before.
The graph below shows the survey results since Gallup began asking the question in 2011. As the trend lines indicate, real estate has been gaining ground as the clear favourite for almost a decade now:
If you’re considering purchasing a home, let this poll reassure you. Even when inflation is high today, Americans recognize owning a home is a powerful financial decision.
How an Investment in Real Estate Can Benefit You During High Inflation
Because inflation reached its highest level in 40 years recently, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board, including goods, services, housing costs, and more. However, when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increases on one of your most oversized budgetary items each month.
If you’re a renter, you don’t have that same benefit, and you aren’t protected from these increases as rents rise. As Danielle Hale, Chief Economist at realtor.com, notes:
“Rising rents, which continue to climb at double-digit pace . . . and the prospect of locking in a monthly housing cost in a market with widespread inflation are motivating today’s first-time homebuyers.”