Investors overwhelmingly believe that the U.S. housing market is overvalued, but they still see real estate as a better investment than the stock market, according to an investor survey released by TIAA-CREF, New York.The study, conducted by Roper Public Affairs and Media for TIAA-CREF, found that 73% of surveyed investors believe U.S. housing is overvalued, while only 19% believe it is valued appropriately. Nevertheless, 69% of the investors said real estate is a better investment than stocks, compared with 24% who said stocks are better, the company reported. "There is a notable disconnect between the run-up in housing market values investors are seeing as homeowners, and their desire to participate in an attractive asset class like real estate over stocks and bonds," said Tom Garbutt, managing director and head of real estate at TIAA-CREF. The study also found that only 58% of the surveyed investors say housing in their own community is overvalued, and 75% say they have no plans to sell their primary residence to generate retirement income. The company can be found online at http://www.tiaa-cref.org.
