It seems that not only "home is where the heart is," but homes and houses are what the nation's savviest have picked as the place to literally put their wallets.
The latest Gallup poll has found that 35% of Americans now say real estate is the “best long-term investment,” increasing its lead over four other investment choices.
Meanwhile, stocks (22%) and gold (17%) have fallen further behind as top choice. The poll found 15% support for savings accounts/CDs and 7% for bonds, according to the Gallup poll.
Real estate and gold have switched positions over the last five years as gold prices tumbled and home sales recovered from the 2007-2009 housing market collapse, with real estate taking the crown for the last two years.
“As the average sale price of new homes in the U.S. increased from $259,300 in August 2011 to $348,900 in February of this year, the percentage of Americans picking real estate as the best long-term investment almost doubled,” Gallup’s Jim Norman explains.
“During approximately the same time span -- from August 2011 to April of this year -- gold prices plunged from $1,910 to $1,254 per ounce, and the percentage thinking gold would be the best investment was cut in half,” he wrote.
Gallup’s poll found other insightful trends:
- Men are more likely than women to think gold is the best investment. Women are more likely than men to favor savings accounts.
- College graduates are more than twice as likely as nongrads to favor stocks — 37% to 17%. Those without a degree are more likely than grads to favor gold (21% to 12%) and savings (19% to 8%).
- Americans younger than 30 are the least likely (26%) age group to think real estate is the best investing choice and are the most likely (26%) to favor savings.
Meanwhile, the Huffington Post
recently reported that oil stocks will be the best investment in 2016.
“Just like real estate was a good buy for the right investor in 2009-2010, so is oil and gas investing for the right investor now,” Tom Wheelwright, CEO of ProVision Wealth, tax reduction expert and Rich Dad Advisor, told the Post. “The right investor is one who has a solid wealth strategy and knowledge of oil and gas investing.”
(Editor's Note: Results for the Gallup poll are based on telephone interviews conducted April 6-10, 2016, with a random sample of 1,015 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia. For results based on the total sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level.)
(Newsmax wire services contributed to this report).
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