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Most Americans don’t think housing will double-dip

February 28, 2011 01:16PM

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