Even with declining home values and a market that at times doesn’t seem like it will ever recover, Americans still believe in the investment value of homeownership, according to a recent study by the Pew Research Center.

More than three-quarters (81 percent) of consumers agree that buying a home is the best long-term investment a person can make. That’s saying a lot considering some economists think it could be a decade before the nation’s housing market fully recovers.

Pew’s research found that 37 percent of people “strongly agree” that homeownership is the best investment a person can make while 44 percent “somewhat agree.” While these numbers may not seem like anything to celebrate, I agree with the report when it states that “confidence at any level these days is notable, given that the housing market is mired in the longest and deepest decline in modern American history.”

Here’s more of what Pew reported:

· Home prices nationwide are down 31 percent from their pre-recession peak in July 2006.

· 47 percent of homeowners said their home is worth less now than before the recession began; 31 percent said its value has stayed the same; 17 percent said their home is worth more.

· Of those who say their home has lost value, 86 percent expect it to take at least three years for values to recover to pre-recession levels; 42 percent said it will take at least six years; and 10 percent said it will take more than 10 years.

There’s a lot more to the report, including how homeowners are more positive than renters about the financial wisdom of owning a home. You can see it all here.