subject: The Top 5 Trends in the American Housing Sector [print this page] The crash of the housing sector precipitated the greatest economic crisis in America. Because of the bursting bubble, would-be homeowners are becoming more skeptical. People are seriously evaluating their options whether to buy or just rent a home.
You can not deny the fact that some American families are struggling to pay their mounting household bills. And mortgage payment is still the top priority of every homeowner in America. Are there indications that the great American dream of owning a home is still beyond the reach of most citizens? Here are the top trends in the homes market and the views of aspiring homeowners about the great American dream.
1. Fannie Mae conducted a recent survey that showed 6 out of 10 Americans prefer to buy a home if they will move to a new location. In contrast, 3 out 10 say that they would prefer renting a home. Although the dream of home ownership is fairly high, the survey painted a sad picture of the current situation. There is a tendency among Americans today to be pessimistic about the soundness of buying a house as an investment. However, you have to take note that Americans still want to own a house and it is a mistake to prevent them from fulfilling their dreams.
2. Still on the Fannie Mae survey, most Americans tend to believe that home prices will go up in the next years. Despite the crash of the market, many think that this will be the next trend. This view is diametrically opposed to the views of banks, analysts, and housing firms that home prices will continue to slide down next year.
3. One good note about the current homes outlook is that the majority of Americans think that today is a good time to buy a home. On the other hand, 1 out of 3 thinks that buying a home today is very good. This shows a relatively bright prospect for the current homes market.
4. The majority of Americans still think that it is very good for the community if citizens will pursue home ownership. The Fannie Mae survey showed that more than half of the respondents have this kind of outlook.
5. Fifty percent of American renters have plans of buying a home in the near future. Despite the bursting of the housing bubble, renters are still optimistic that they can own a home someday. Many believed that buying a home is a good reason to keep on working and they look at renting as throwing money into the wastebasket.
Everyone knows that the American economy is still trying to wiggle out of the tight economic mess. The economy is still in the danger zone and the impact of the sub-prime crisis is lingering. Despite these troubles, Americans never gave up on their dreams. They still want to own a home one day.
Financial and market experts continue to paint a grim outlook for the housing market. Meanwhile, most Americans are pretty positive that they can still own a home. If you think about it, no one can really predict with accuracy how the housing sector will turn out in the future.
The Top 5 Trends in the American Housing Sector
By: Rob Blake
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