Millennials may not think so, but most Americans still hearken to Mark Twain’s old saw: “Buy land; they’re not making it any more.”
You can tell because real estate topped the list of preferred long-term investments in a new Bankrate.com study, conducted by Princeton Survey Research Associates International (PSRAI).
Asked which investment they preferred for money that they wouldn’t need for at least a decade, 27 percent chose real estate. Another 23 percent said cash (one wonders how good their mattress is) and just 17 percent opted for the stock market.
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