Survey: Is the Country Still in a Housing Crisis?

shutterstock_forecast2-300x281This is a case of the people taking this survey reacting to their gut instincts and not the facts regarding the current housing market.  For a more detailed look at this subject – please read the article below.

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While the housing market continues to make strides toward recovery following last decade’s crash, a new survey finds the majority of the American public still harbors doubts about whether the worst of it is truly over.

In its second annual survey of housing attitudes, the MacArthur Foundation found 51 percent of American consumers still believe the country is in the midst of its housing crisis, while another 19 percent believe the worst is yet to come. Only 25 percent said they believe “the housing crisis is pretty much over.”

While results in the 2014 survey were slightly more optimistic than last year, more than two in five adults believe the housing market today continues to be a serious problem.

“The housing crisis that began more than five years ago has left an indelible mark on the attitudes and experiences of Americans,” said Geoffrey Garin, president of Hart Research Associates, which conducts the survey for MacArthur.

At least part of that pessimism stems from challenges related to housing affordability in today’s economy, which “has driven a large share of the American people to make significant financial adjustments,” Garin said.

Overall, only half of survey participants said they feel homeownership is still an “excellent” long-term investment, and just less than two-thirds feel it is less likely today for a family to build equity and wealth through homeownership than it was 20 or 30 years ago.

To read the complete article – please use the link below.

Housing Crisis?

Explore posts in the same categories: Real Estate Market Trends

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