Consumers Still Feel Housing a Good Investment Posted by AVCU on 10:40 AM

Bankrate commissioned Princeton Survey Research Associates International to gauge the attitudes of Americans about finances and family life and discovered several surprises. Families may be fearful of their finances, but not enough to change savings behavior, according to the survey. Although markets have shaken faith in some financial principles, the American dream of homeownership remains alive and well. Among the findings:

• Although 92% believe a home is a good investment for the future, nearly half (48%) worry about losing their home or being unable to afford the home they live in.
• Americans are split about whether stocks and mutual funds are good long-term investments: 39% don’t believe the stock market offers the best chance for long-term returns, while another 12% don’t know how they feel about stocks. But 49% have faith in the market,
• A whopping 70% of are vexed about saving enough money for retirement, while 50% fret about college costs for a family member.
• 67% are willing to postpone having children to first establish careers and finances, but 30% would consider not having children at all because of the financial burden on their household.
• Despite a much-publicized rise in the national savings rate, many Americans haven’t changed savings habits. Just 17% have increased savings, while 44% are saving about the same amount as before and 36% save less. Among the employed, only 35% have adequate savings to weather a job loss lasting more than six months.