Home Buying Seen as Safe Investment

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According to Fannie Mae's annual housing survey, more Americans are buying or plan to buy homes in part because 70% view the purchase of a home as the safest, most lucrative place to put their money.

October 01, 2002

 

According to Fannie Mae's annual housing survey, more Americans are buying or plan to buy homes in part because 70% view the purchase of a home as the safest, most lucrative place to put their money.

This opinion cuts across age groups and income levels in all regions of the country and counters the argument that demand for homes will dissipate drastically when interest rates go up.

"Many have seen appreciable gains in the value of their homes," Fannie Mae CEO Franklin Raines says, "even those who bought as recently as a year ago."

Ranking Investments

Homes top the list
Buying a home
70%
IRA or 401(k) plan
38%
Savings or money-market account
27%
Mutual funds
25%
Stocks
10%
Source: 2002 Fannie Mae National Housing Survey

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