Bank of America survey: Consumers cautious about home affordability

Most consumers still say buying a home is a good investment

Despite continuing declines in home prices nationwide, 62 percent of surveyed consumers said buying a home in today’s market is a good investment over the next 10 years, according to a survey from mortgage lender Bank of America.

Global market research firm Socratic Technologies Inc. conducted the monthly survey, called the Mortgage Index Study, on behalf of Bank of America.