Owning Home Less Popular as Investment

Washington, DC, March 1, 2011 -- Home ownership is not as popular as an investment as it was in 2003, according to the National Housing Quarterly Survey.

Fewer than two in three Americans now think owning their own home is a safe investment. Less than a decade ago, more than four out of five who thought it was a good investment.

That attitude shift is likely to cause rents to rise as more Americans opt for renting over buying, the Fannie Mae survey said.

The survey found that just 64% of Americans think owning their own home is a safe investment, down from 70% at the beginning of last year and well below the 83% who thought it was a safe investment in 2003.