Real estate comes out on top for best long-term investment, according to Americans surveyed

Posted at 7:12 PM, Aug 16, 2017
and last updated 2017-08-17 10:05:20-04
Most Americans say put your money where your house is, according to a recent Bankrate survey
The majority (28-percent) surveyed said real estate is the best choice for investing money you won't need for a decade.
"When you have real estate, it's a tangible asset," Brandon Hendrick from VIP Mortgage, said.
Hendrick is not only a loan officer, he's also a real estate investor, both flipping and renting out homes in the Valley.
"Even in a market where values are going to stagnate, your equity is still growing and the tax benefits are really good," he said.
What may surprise some though is cash, where there's no return or very little in a savings account, came in as second favorite (23 percent).  And the stock market, even with its months-long upward trajectory, came in third (17 percent).
Local CPA Robert Hockensmith said market corrections over the past ten years are still making people hold tight to their cash.  
"People are afraid," Hockensmith said. "If you go back to 1929 during the depression people stayed out of the stock market for almost 20 years. The rich people went into it, but the average investor stayed out of it."
Regardless, Hockensmith said investing is not one size fits all, what works for one client may not work for the next.
Except this: "The best investment you can make is in yourself. If you can continue to earn income, you're going to do well no matter what you're doing," he said.
To see the full survey, click here.