Survey: Americans say owning a home is smart investment

Homeowners and renters alike see the value of owning their home, according to a survey from the National Association of Realtors, in which the majority of respondents said buying a home is a smart decision.

An overwhelming 93 percent of homeowners surveyed said they would purchase their home again if faced with the decision, while 63 percent of renters said it was likely they would own a home sometime in the future.

NAR president Ron Phipps said the results show that homeownership is still an important issue to most Americans, although renters say credit and job security are obstacles that keep them from meeting that goal.

"Home owners and renters agree that homeownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy," he said.

While the rocky housing market has forced many former homeowners to rent, a Fannie Mae survey found a majority of Americans across all racial and economic groups aspire to buy their own home.

However, economic hardships have turned off some people from investing in their own home. Thirty-three percent of respondents in a recent Fannie Mae survey on household demographics said they were more likely to rent than buy their next home, up from 3 percent in January 2010.

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