Despite conventional wisdom being that real estate is one of the safest investments that can be made, slightly more people have lost money investing in real estate than have cashed out a profit, according to a new Housing Predictor poll.
The online survey found that 37% of respondents have lost money as a result of investing in real estate compared to 35% who said they turned a profit. The new poll follows nearly five years of slumping home sales after one of the fastest and mightiest run-ups in home values in U.S. history. The remaining 29% of respondents said they did not invest in real estate.
When the real estate bubble burst markets all over the U.S. came crashing down and most still have not adapted to new norms. The housing crash has damaged neighborhoods, sent millions of homeowners into foreclosure and shattered the world economy, leaving all but a few Wall Street executives, traders and bankers much richer for their efforts, while the U.S. economy lingers in the doldrums.
A National Association of Realtors survey taken before the real estate boom showed that just 15% of investors in real estate netted a profit, which shows that it may be more difficult to turn a profit investing in property than many perceive it to be.
Have you lost or made money in real estate investments in the past?
Made money 35% Lost money 37% Didn’t invest in real estate 29%
To see the previous poll results click here.