More Americans Confident About Home Ownership
Americans are more confident about the stability of home prices than they were at the beginning of 2010, according to Fannie Mae’s latest national housing survey, conducted between October 2010 and December 2010.. And when it comes to home ownership, younger Americans are particularly optimistic, the survey finds.
Nearly 80 percent of all respondents, including home owners and renters, surveyed said they thought housing prices would hold steady or increase over the next 12 months–which is up from 73 percent in January 2010. In fact, survey respondents expressed more confidence over the stability of home prices than they did about the overall strength of the economy. Sixty-one percent said the economy is heading on the wrong track.
Young Americans, Hispanics, and African-Americans were the most positive about their views on home ownership among the general population, according to the survey. Nearly 60 percent of Generation Y respondents (those between 18-34 years old) say that buying a home offers a lot of potential as an investment. Also, more than one-third of Hispanics and African Americans say they plan to buy a home within the next three years, compared to one in four of the general population.
“We are also seeing encouraging signs in the positive attitudes toward home ownership among younger Americans, despite the severe impact of the housing crisis on Generation Y,” says Doug Duncan, Fannie Mae’s chief economist. “But most respondents to our survey continue to lack confidence in the strength of the economic recovery, and they are less optimistic about their ability to buy a home in the years ahead. This sense of uncertainty is weighing on the housing recovery today and reshaping expectations for housing for the future.”“Fannie Mae’s Latest National Housing Survey Shows Key Changes in Americans’ Attitudes Toward Housing and the Economy,” RISMedia (March 1, 2011)
New York Real Estate Access | Your Access To Every Home On The MLS!
* Instant access to all MLS listings
* Receive future email updates of new listings they day they hit the market!
* Save listings, searches, email friends, and more...
Start Searching For Homes Today!
Tayeb Realty Group | Real Estate Professionals
Search for Homes!
- March 2012 (24)
- February 2012 (12)
- January 2012 (2)
- October 2011 (1)
- July 2011 (12)
- June 2011 (8)
- April 2011 (9)
- March 2011 (6)
- February 2011 (15)
- January 2011 (28)
- December 2010 (18)
- November 2010 (18)
- October 2010 (21)
- September 2010 (21)
- August 2010 (20)
- June 2010 (32)
- May 2010 (27)
- April 2010 (50)
- March 2010 (33)
- February 2010 (41)
- January 2010 (33)
- December 2009 (39)
- November 2009 (15)
- October 2009 (4)
Error: Twitter did not respond. Please wait a few minutes and refresh this page.
- $8000 credit (TARP) 30-year mortgage rates 2009 NAR Profile of Home Buyers and Sellers adjustable rate mortgage (ARM) American housing market an energy-improvement mortgage (EIM) Appraisal Atlanta average interest rate Bank-owned properties Bank of America Corp. bank or lender Bank repossessions Basement Remodel Beacon Economics Bedroom Remodel Ben Bernanke better house better resale value beyond. Some believe VOWs could also pave the way for a comprehensive Multiple Listing Service Bloomberg News borrower borrowers borrow more Broker brokerage listings Build-to-suit commercial real estate credit credit report credit score economic recovery existing-home sales Federal Housing Administration FHA FHA loans First-time home buyers First-Time Home Buyer Tax Credit fixed-rate mortgage foreclosure Foreclosures home buyer tax credit home owners Homeownership home prices home sales Home Values housing market interest rates IRS loan mortgage mortgage applications Mortgage Bankers Association mortgage payment Mortgage Rates mortgages NAR National Association of Realtors new york real estate office space properties property values real estate real estate market real estate news real estate trends REALTORS refinancing Remodeling Short Sale tax credit Tax Incentives value of home