Real Estate Blog: Public still believes in home ownership

05/10/2011 12:41 PM |


A sluggish real estate market hasn’t shaken the confidence of the public in how it views home ownership, according to a new study by the Pew Research Center. Eight in 10 adults (81%) say owning a home is the best long-term investment a person can make, according to the Pew study of about 2,000 adults conducted in March 2011.

“Homeowners are not blind to what has happened to home prices, nor are they expecting a speedy recovery,” according to the Pew study. In fact, of the home owners surveyed, about half said their home is worth less now than before the recession, while 31% said their home’s value has stayed the same.

Nevertheless, 82% of homeowners who say their home is worth less now than before the recession agree that home ownership is the best long-term investment a person can make, according to the survey.

The value of home ownership even continues to emerge on top when homeowners were surveyed and asked to rate the importance of four long-term financial goals. Home ownership and “being able to live comfortably in retirement” rated the highest — viewed as either extremely or very important by 80% of respondents.

Owning a home is part of the fabric that makes America great!  Don’t let the naysayers derail you from getting your dream house.  It’s absolutely the best time to buy.

The author is a real estate broker and co-owner of Beninati Associates in Southold.

Editor’s Note: Are you a real estate professional who would like to contribute a blog entry for our websites? Email web editor Grant Parpan to see how you can get your voice out there.



219 Comment

  • If Congress takes away the MID, what do you think the numbers will say?
    According to the US 2009 census report only 67% of all Americans own their own home which is the 17 lowest in the world. And in the past three years only 77% say it was a good decision, down from 87% in 2007. Does the survey state that those asked actually owned homes ? NO! The value of home ownership in the Pew survey is a perceived value. And wait until the Medicare tax of 3.8% kicks in whose AGI is higher than 250K – not to mention the highest property and state income tax rates in the nation.

  • Oh shut up… You don’t know what your spewing about.

  • Just Enjoy – I guess you missed the article in Monday’s WSJ and today’s NYT and Newsday regarding sales in the country, NYS and Suffolk County.
    There’s nothing more thought-provoking than an unintelligent response from a non-reader or non- thinker. Thanks for making my day.

  • If you knew anything about real estate it would be that ALL real estate is LOCAL. The North Fork is not subjected to the foreclosures and short sales that have infected the rest of the market. Less than one half of 1 percent in fact. Many homeowners here own their homes free and clear, others have very small mortgages and generally speaking most residents here are more financially savvy than the general population. If you follow the media herd you will not have a real sense for what is LOCAL and factual … My house is currently on the market and I don’t have to sell if I don’t like the offer. The fact is that real estate is not a luxury, it is a necessity as much as food and water are. People need shelter in order to survive. Rentals do not give Americans the sense of freedom and self sufficiency that we yearn for, therefore in the end it is the seller that is in the drivers seat because we own we others want and they will mortgage for the next 30 years to get it.

  • I know that real estate is local, perhaps you would like to seek some factual sales figures for the North Fork. You can compare by zip code, is that local enough for you? Go to for the real facts. What were the total number of sales on the North Fork from Riverhead to Orient in the past 12 months ? How many of them were short sales? A number please? Oh btw, please don’t use LIBOR’s MLS figures – being in the business you should know they aren’t accurate and btw what is your source for short sales?