National Housing Survey

Fannie Mae's latest National Housing Survey shows that Americans have markedly changed their perception of homeownership away from that of an investment and toward more intrinsic values. The most recent survey, conducted between October and December 2010, revealed that 64 percent of respondents felt buying a home was a safe investment.

At the same time, 84 percent of consumers believe that owning a home makes more sense than renting, a number that has remained relatively stable since the January 2010 survey. Respondents gave, as positive reasons for homeownership the quality of local schools (79 percent) and safety (also 79 percent.) These ranked far ahead of any financial considerations such as tax benefits or a belief that paying rent makes less sense.

Americans have grown more confident about the stability of home prices than they were one year ago although this is not matched by their attitudes regarding strength in the economy. A majority (78 percent) feel that home prices will either stay the same or go up versus 19 percent who expect further declines

Financial reasons were most frequently named as significant obstacles to owning a home; lower or poor credit topped the list. Sixty-one percent of the Generation Y subgroup in the survey felt that buying a home is a safe investment. They gave a higher value to the impact of homeownership on societal status and as a place to raise children than did other subgroups in the survey.

Our local area is doing wonderful. Have your friends or family members that are renting call me so I can explain more. I understand this local market very well and how I can help them obtain a home. Remember, buying a home is a big step, but it is almost always one in the right direction.

Joana N Hoover