Pew Research Center conducted a nationwide survey of 2,142 adults which was run from March 15 to March 29, 2011 and found that even though the housing market still continues to struggle to find a foothold for recovery eight in ten Americans still believe that home ownership is the best long-term investment they can make.
Regardless that the average American home has lost nearly one third of its value since the housing markets bubble burst, the allure of the American Dream seems to be offsetting those horrible losses.
Despite the positive thoughts felt by so many Americans no one knows how long it will be before there are multiple buyers showing up on the first day of a listing while using their cell phones to wag a bidding war.
Brian Moynihan, the CEO of Bank of America said, "It's sobering to think, but some people shouldn't be thinking of (their home) as an asset. They should be thinking of it as a great place to live."
Homeownership is still the core of the American Dream and it is still believed by 80 percent of America.