A new Fannie Mae survey (via Felix Salmon) gives a sad picture of the American homebuyer.
On one hand, people are cautious and have more doubts than ever about the safety of houses as investments.
But…
Basically, Americans still dream of owning a home and there’s little to dissuade them.
Even after so much pain, there’s little hope people will stop wanting to own homes, and thus the government will inevitably oblige, sticking with all manner of incentives to keep the dream alive.
See the sad news here >
It’s true. Nobody really knows where housing is going.
Source: Fannie Mae
Americans still think owning a home is a better deal than renting
Source: Fannie Mae
Americans think it is a great time to buy a home
Source: Fannie Mae
Most Americans think homeownership is VERY important to local community
Source: Fannie Mae
A majority of non-homeowners WOULD buy a home if their credit didn’t suck… that’s prime market for a sub-prime lenders!
Source: Fannie Mae
Most believe homeownership is VERY important to the economy
Source: Fannie Mae
13% of Americans have lost faith in real estate investments… BUT MOST STILL BELIEVE
Source: Fannie Mae
If they had to move, most Americans would look for a house to buy
Source: Fannie Mae
A majority of homeowners say they have SACRIFICED to own their home
Source: Fannie Mae
Half of all renters plan on buying a home in the near future
Source: Fannie Mae
Most Americans don’t care if you have an underwater mortgage or financial difficulties, you SHOULD NOT default on your mortgage
Source: Fannie Mae
Most do not blame the mortgage company for the subprime crisis
Source: Fannie Mae
Most delinquent mortgagers have not even considered default
Source: Fannie Mae
Because defaulting on your mortgage is “immoral”
Source: Fannie Mae
But here’s the thing: people WILL consider default if they see other people default
Source: Fannie Mae
And in the end, RENTERS are more confident about their financial situation
Source: Fannie Mae
Now check out…
Image: Zillow
The 10 Housing Markets In America That Are Still Wildly Overvalued
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