Most Americans don’t think housing will double-dip

New York /
Feb.February 28, 2011 01:18 PM

Americans may be skeptical about the strength of the economic recovery, but the vast majority don’t believe the hype about a double-dip in the U.S. housing market. According to Fannie Mae’s fourth-quarter national housing survey, released today, 78 percent of Americans believe home prices will either remain flat or increase over the course of the next year, up from 73 percent who felt that way in January 2010. That stands in contrast to the nearly two-thirds of respondents — including 751 homeowners, 1,232 mortgage borrowers and 871 renters — who still think the economy is on the wrong track. Although the percentage of Americans who see homeownership as a safe investment has declined significantly (64 percent now say it’s safe, down from 70 percent in January 2010 and from 83 percent in December 2003), younger respondents, Hispanics and African-Americans were more positive than the general population about the prospect of buying a home. Meanwhile, the number of delinquent borrowers who said they have considered a strategic default has declined, to 31 percent in the fourth quarter from 39 percent one year ago. TRD


Related Articles

arrow_forward_ios
From left: Fannie Mae's Hugh Frater and Freddie Mac's Michael DeVito
Government to back home loans over $1M
Government to back home loans over $1M
Residential Real Estate, Housing Market, Fannie Mae
Sentiment sinks deeper as market sidelines buyers and sellers
Sentiment sinks deeper as market sidelines buyers and sellers
Equifax CEO Mark Begor (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Equifax error might have harmed (or helped) mortgage applicants
Equifax error might have harmed (or helped) mortgage applicants
Fannie Mae's Doug Duncan (Fannie Mae, iStock)
Optimism continues slide among would-be homebuyers
Optimism continues slide among would-be homebuyers
A photo illustration of a crystal ball predicting future home prices (iStock)
Home sales, building to slow: Fannie Mae
Home sales, building to slow: Fannie Mae
Fannie, Freddie to buy mortgages up to nearly $1M
Fannie, Freddie to buy mortgages up to nearly $1M
Fannie, Freddie to buy mortgages up to nearly $1M
FHFA director Sandra Thompson (FHFA, iStock)
Treasury suspends investment property restrictions to boost housing supply
Treasury suspends investment property restrictions to boost housing supply
From left: JPMorganChase CEO Jamie Dimon, Goldman Sachs CEO David Solomon and Morgan Stanley CEO James Gorman (Getty)
Demand for private-label mortgages on the rise
Demand for private-label mortgages on the rise
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...