Real estate is Americans' preferred investment for money not needed for at least a decade, according to a new survey paid for by personal financial information publisher Bankrate Inc., The Huffington Post reports.
Twenty-seven picked real estate, followed by 23 percent who said cash and 17 percent who selected the stock market, according to the survey. The preference for real estate is especially pronounced in the West, where this was cited nearly two-to-one over any other investment option, Bankrate says.
Millennials had the highest preference for cash among all age groups, while households headed by college graduates is the only group to prefer stocks.
"Most Americans are still not embracing the stock market for long-term investment horizons," says Greg McBride, Bankrate.com's chief financial analyst. "Many still fear short-term volatility more than they desire the higher long-term returns."
The S&P 500 has risen 27 percent over the past two years, but Americans are only three percentage points more likely to favor stocks now than they were in 2013.
Gold and other precious metals ranked fourth on this year's list with 14 percent of the vote. Bonds were last among the five options, at 5 percent.
The Bankrate.com Financial Security Index slipped to 102.1, the second-lowest level of 2015. Americans' job security decreased and their already dour feelings on savings got more so. These trends were particularly pronounced among women. Consumers are also feeling less comfortable with their debt.
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