Despite all the recent issues with foreclosure and the dropping of property values, ninety-two percent of Americans believe, even now, that a house is still a good investment for the future, according to the results of a recent survey. Some of you may be wondering, “But how can this be? We’re not selling for more than we bought anymore!”
The answer is simple. You can buy or you can rent. The money you spend renting is money that you will never see again. If you buy real estate, the money is going into something that you are working to own. The money is going to something of value and something that you can use for many years if you take care of it. In a rental situation, you know for certain that you are always taking a financial loss for temporary lodging. You get to use an accommodation for the months that you pay for it and that is the only value those dollars will get you.
It is true that a quarter of Americans owe more on their mortgage than their homes are worth, where a dollar value is concerned. This has been a crisis, yet nine out of ten Americans still feel that investing in a home is a good idea, according to the survey which was released by Bankrate Inc.
More fascinating statistics emerged from the survey which indicated that only seventeen percent of Americans said they increased savings, forty-four said their savings is the same, and thirty-six say they save less than before the economic slump. For those Americans that do have a job, only thirty-five percent have enough saved to last through six months of unemployment.
The general gist is that despite the difficulty Americans have saving money in rough financial waters, most still hope to have a home that they own. That is a spirit worth fighting for.
If you are in the market for a new West Maui home, we recommend exploring the Maui Kaanapali Golf Estates. Also, there are some great deals on condos at the Whaler on Kaanapali Beach you may want to consider. Thanks for reading, and remember, if you have any questions not answered on our website, you can call (800) 367-5632 or email us at . We would love to assist you. Mahalo!