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I found this news today..
Real Estate Still Best Long Term Investment According to OwnAmerica Survey
RYE, N.Y. — Despite a prolonged downturn in the housing market, real estate is still the best long term investment, according to 84% of respondents in OwnAmerica’s recent survey on real estate investing. Comparatively, stocks/mutual funds, bonds and savings accounts were ranked best by only 9.9%, 4% and 2%, respectively.
Among the respondents who have invested in real estate, 81.6% say they have made money and 82% expect real estate values to “definitely” appreciate over the next ten years. (53.5% believe property values will definitely increase over the next five years.)
“The most significant outcome of this survey is the overwhelming confidence in a long-term recovery. People understand now, more than ever, that building wealth in real estate takes time.” says OwnAmerica CEO Gregory Rand.
Investors cited Florida (15.4%), California (11%) and Virginia (8.8%) as the states in which they are most interested in investing. Others to make the list include: Colorado, North Carolina, New York, New Jersey, Pennsylvania, Nevada and Arizona.
“The unique nature of this market today has created a perfect scenario for investors – dropping prices and rising rents,” notes Rand. “As a result, there are hundreds of cities and towns across the U.S. that have become positive cash flow markets, meaning the rents exceed the costs to own. Investors can buy, earn double digit returns just on the rent and gain the appreciation when it comes.”
I also agree that real estate is still the best investment out there.