Housing took cash’s spot as the favorite mode of long-term investment for Americans, a survey by Bankrate.com says.
This trend reflects a similar study conducted by Gallup back in April, hinting that many Americans have put the housing bubble bust of the late aughts behind them.
Responses from 1,000 investors revealed that more than one in four Americans (27 percent) said real estate was the “best investment for money they would not need for at least a decade,” NBC News reports. Cash came in second with 23 percent of investors, after coming in first place in 2014 and 2013, when Bankrate.com’s survey was first conducted.
The tangible nature of real estate is one aspect that gives investors more peace of mind than, say, stocks and bonds. “Real estate pricing also adds peace of mind to investors as pricing seems more stable because it is not updated daily by the media,” Stephen Doucette, financial planner and vice president of Proctor Financial told NBC News.
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