Housing Poll: Prices will Go Up, Go Down, or Remain Flat!

By Kevin

ABC news reports about a poll of Americans about their attitudes towards the current housing situation:

Nearly three in 10 said they are concerned their home's value will decline over the next two years, while 14 percent of mortgage holders expressed worry that they might miss payments in the next six months.

However, this I find absolutely striking:
The number envisioning falling prices in their area has grown to one in four, while four in 10 think prices will rise, a decrease from two years ago.
But...
Underscoring the public's unsettled feelings, the number saying local housing prices are about right has fallen to 35 percent. Half say homes are overpriced — especially in the Northeast — while those saying housing is underpriced have doubled to one in 10. Midwesterners were likelier than those in other regions to feel this way.
Let me misread the data: 35% of Americans think prices are OK, AND won't change very much. 25% think prices will fall and 40% think prices will rise. These beliefs stand on top of the near majority (~50%) of people thinking prices are too high, and 10% thinking prices are too low.

There are no contradictions there, but absolutely not a monolithic sentiment. I mean, if you're a politician, how are you supposed to pander to everyone?


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