Steep Decline in Self-reports of RE as Investment
Inman news is reporting a sharp decline in the number of folks who intend to purchase real estate as an investment over the next three to five years.
"Over the past 12 months, there has been a sharp drop in the percentage of investors across all age groups who plan to purchase real estate within three to five years, according to an annual survey released today by the MainStay Investments division of New York Life Investment Management LLC."
"In 2005, 13 percent of GenXers plan to add real estate, the survey found, compared with 32 percent in 2004, the study found. Five percent of Boomers plan to add real estate, compared with 18 percent in 2004. And 6 percent of Matures in 2005 plan to add real estate, down from 16 percent in 2004."
""Investors who change their investment approach – and shift assets as a result – based on the recent history in the capital markets are far more likely to do damage to their long-term financial well-being than those who follow a comprehensive financial plan," said Moore. "We're seeing a real disconnect between investors' attitudes and their lifetime goals. They're driving by the rear-view mirror.""