In spite of gloomy news about housing coming from virtually all directions, a new survey reveals that 70 percent of Americans would advise friends and family to buy a house, Thomas Wilson, CEO and chairman of the insurance company Allstate Corporation, told CNBC Friday.
“The underlying demand for houses has not changed, despite the fact that consumers are more conservative and want to save more,” said Wilson, who is also vice-chairman of the Chicago Fed.
“By a factor of 4 to 1, they think investing in a home is a better deal than investing in the stock market,” he said.