Mortgage rates are surging higher, inflation is soaring, and many experts are forecasting a recession may soon be on the way. Despite these negative impacts on the housing market, real estate remains America’s favorite long-term investment in 2022, according to a just-released Bankrate survey. It was the third time in the last four years that real estate took the top honors.
In all, 29% of Americans said that real estate was their top pick for investing money that they didn’t need for 10 or more years. Real estate made a strong showing, and it was the second-highest result – behind only the 31% it notched in 2019 – in the survey’s 10 years of polling. The runner-up in this year’s survey was stocks, which garnered 26% of Americans’ votes.
“Despite a housing market that is coming off the boil, preference for real estate remains high,” says Greg McBride, CFA, Bankrate chief financial analyst. “For the third time in the past four years and sixth time in the past 10 years, real estate is Americans’ preferred way to invest money not needed for more than 10 years. Despite a brutal bear market in 2022, the stock market was a close second.”
