Consumers Lack Confidence in Housing Recovery
Mike Colpitts
September 21, 2009
Almost 2 out of 3 people surveyed lack confidence in a housing market recovery, and say they are not feeling better about the state of the U.S. housing market, according to a new Housing Predictor Poll.
Despite government efforts to improve market conditions with incentives for first time home buyers and multi-billion dollar bail-outs, a large majority say they are not feeling better about the state of the housing market. The first time home buyers´ federal tax credit has prompted many new buyers to make purchases, but the government has clearly has not done enough to defray a lack of confidence.
The survey indicates there needs to be more done to remedy problems in the nation´s housing markets to improve conditions as home values decline in most of the country at nearly unprecedented rates. Full details on the latest Predictor Poll may be found at http://www.HousingPredictor.com
Despite a drop in the number of homes listed for sale from record highs, the majority of housing markets in the U.S. are experiencing the biggest buyers markets in years. The drop in home prices and record volume of foreclosures provided a ready inventory for buyers.
Housing Predictor forecasts more than 250 local housing markets in all 50 states and has updated more than 200 forecasts since issuing its forecasts at the beginning of the year.
Sales of bargain priced foreclosures produced a surge in home sales in many areas of the country. Consumers, leading real estate companies, home builders, Wall Street bankers, real estate investors, home owners and many of the country's largest retailers depend on Housing Predictor forecasts.
Housing Predictor forecasted the foreclosure epidemic would cause the economic recession and regularly conducts Predictor Polls to gauge the pulse of consumers on issues related to real estate.
Despite government efforts to improve market conditions with incentives for first time home buyers and multi-billion dollar bail-outs, a large majority say they are not feeling better about the state of the housing market. The first time home buyers´ federal tax credit has prompted many new buyers to make purchases, but the government has clearly has not done enough to defray a lack of confidence.
The survey indicates there needs to be more done to remedy problems in the nation´s housing markets to improve conditions as home values decline in most of the country at nearly unprecedented rates. Full details on the latest Predictor Poll may be found at http://www.HousingPredictor.com
Despite a drop in the number of homes listed for sale from record highs, the majority of housing markets in the U.S. are experiencing the biggest buyers markets in years. The drop in home prices and record volume of foreclosures provided a ready inventory for buyers.
Housing Predictor forecasts more than 250 local housing markets in all 50 states and has updated more than 200 forecasts since issuing its forecasts at the beginning of the year.
Sales of bargain priced foreclosures produced a surge in home sales in many areas of the country. Consumers, leading real estate companies, home builders, Wall Street bankers, real estate investors, home owners and many of the country's largest retailers depend on Housing Predictor forecasts.
Housing Predictor forecasted the foreclosure epidemic would cause the economic recession and regularly conducts Predictor Polls to gauge the pulse of consumers on issues related to real estate.