Real estate increased it’s lead over four other investment choices, becoming the top pick for investment, according to a report on a survey done by Gallup.
In 2016, 35% of Americans chose real estate as the best investment choice, compared to 19% in 2011, according to the survey.
The survey was conducted during April 2016, and was based on phone interviews with a random sample of 1,015 Americans over age 18.
Real estate beat out other top investment choices such as stocks and mutual funds with 22%, gold with 17%, savings accounts and CDs with 15% and bonds with 7%.
Due to the decreasing value of gold and the recovery of the housing market, real estate and gold have switched places, according to the survey. In August 2011, 34% of Americans chose gold as the best investment, compared to real estate’s 19%.
Millennials were the least likely age group to choose real estate as the best investment, and instead favored savings. There was just a slight difference between renters and buyers choosing real estate as the best investment at 32% verses 34% respectively.
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