Article: Wealthy Americans Confident Real Estate Boom Will Last
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Wealthy Americans Confident Real Estate Boom Will Last
Linknet Real Estate News Digest - December 22, 2005 - In spite of worrying signs that the real estate market is slowing down, a survey of wealthy Americans indicates most remain confident property values will continue to appreciate.
In a survey conducted by The PNC Financial Services Group, Inc., 65% of those surveyed said they expect to see double-digit increases in value over the next five years. Almost 1 in 3 (31%) think they will see an increase of 20% or more.
According to Nicholas Buss, senior vice president of PNC, "as an investment, real estate has been an increasingly dominant asset class over the past five years... In general, wealthy Americans have not been speculative buyers and they remain solidly confident in the long term..."
The ...
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