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Saturday, September 17 2011 - By Autumnn Darden
The majority of Americans do not see the housing market recovering in the next year.
U.S. consumers have negative attitude towards housing and growth
The recent Fannie Mae Monthly National Housing Survey, which gauges the attitude of Americans towards housing, the economy and finances, found that U.S. adults have a negative outlook for the housing market and the state of the economy. The survey showed Americans expect home prices to continue to decline over the next 12 months, reporting a negative outlook on the housing market for the third straight month. According to the data, the belief that home prices will remain low for some time is fueling 69 percent of respondents to say it is a good time to buy a home, while just 9 percent believe it is a good time to sell. With the housing market weakened, 46 percent of Americans anticipate rental prices will increase in the next year, by an average of 3.5 percent. In addition, 45 percent of Americans said they think mortgage rates will increase in the next 12 months, which was the same percentage observed in July. A recent Rasmussen Report found very similar findings on American sentiment. The national survey showed 18 percent of U.S. voters believe the country is headed in the right direction, while 76 percent believe the country is headed in the wrong direction. More News |
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