A recent survey by Fannie Mae found that 70 percent of Americans think it is a good time to buy a house, with 47 percent of responsdents saying they believe home prices will hold steady over the next year.A majority of Americans (67 percent) continue to believe that housing is a safe investment; however, that number is down 16 percentage points from a similar survey conducted in 2003, according to Fannie Mae.
Delinquent borrowers and renters are notably more discouraged than mortgage borrowers and underwater borrowers about a home's safety as an investment and the appeal of buying versus renting. More than 70 percent of all respondents believe it will be harder for the next generation to buy a home, an increase of three percentage points compared with the beginning of the year.
Delinquent borrowers and renters are notably more discouraged than mortgage borrowers and underwater borrowers about a home's safety as an investment and the appeal of buying versus renting. More than 70 percent of all respondents believe it will be harder for the next generation to buy a home, an increase of three percentage points compared with the beginning of the year.
Other key findings in the survey include:
Seventy percent of Americans said it is a good time to buy a house, up six percentage points from January.
More than half of respondents think it would be very difficult or somewhat difficult to get a home loan today, down six percentage points since January.
Nearly one quarter of mortgage borrowers said they have reduced their mortgage debt significantly in the last year, and 27 percent of mortgage borrowers say they have reduced their non-mortgage debt significantly.
