- Loan Types
Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report:
84% of the general population believes that owning a home makes more sense than renting.
The Most Important Reasons to Buy a Home
When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money.
The top four reasons, in order, are:
- It means having a good place to raise children and provide them with a good education
- You have a physical structure where you and your family feel safe
- It allows you to have more space for your family
- It gives you control of what you do with your living space (renovations and updates)
The Home as an Investment
Though most people purchase a home for non-financial reasons, everyone realizes there is a money component to homeownership. Here is what they said on this issue:
- 63% of the general population believes that homeownership is a ‘safe’ investment.
- 53% believe that homeownership has more potential as an investment than any other traditional asset class.
Rent vs. Buy
We are always interested in the difference people see in renting vs. owning.
- 64% of renters have aspirations to someday own their own home
- 70% of renters think that owning is superior to renting
Our belief in the value of homeownership grows each time this survey is released.
Anger is never without a reason, but seldom with a good one.
— Benjamin Franklin
- 2013 Real Estate Outlook by Approved Funding is available!
- What’s Ahead For Mortgage Rates This Week – April 8, 2013
- How my “almost” mortgage client lost $47,682 in less than 15 minutes…
- With Tomorrow’s Job Report Due, Mortgage Rates May Finally Rise
- Pending Home Sales Index Continues To Show Strength
- Mortgage Rates Hit Another Record Low
- New Home Supply Remains Firmly In “Seller’s Market” Territory
- New Home Affordable Refinance Program Lending Guidelines
- New Appraisal Standards Effective September 1 for Fannie Mae and Freddie Mac
- Wells Fargo (Wachovia) to pay out $67 million in NJ Settlement
- First-Time Homebuyer Education
- NJ Mortgage Assistance Sites
- “Flopping” Can land you in J-A-I-L
- Loan Types
Follow us on Twitter
~Subscribe to our mailings!