We found it interesting to see how some media outlets reported on the latest Fannie Mae National Housing Survey. It is true that the number of people who believe that now is a good time to buy a home dipped 2% since the June report. However, the report also showed that 68% of people still believe it is a good time to buy. That is more than two out of every three people surveyed.
Yet, the headlines seemed to concentrate exclusively on the negative:
Survey: Americans Growing More Cautious on Housing – Wall Street Journal 11/24
Housing Drop: More Bad News for the Economy – Time 11/24
Is the fact that 68% of the people think now is the time to buy bad news? Shouldn’t it be great news? We elect the president of this country with barely 50% of the voters agreeing. A senate ‘supermajority’ only demands 60% to bring out a vote of cloture or to end a filibuster. Over two thirds believing now is the time to buy is fabulous news.
There were two other very revealing findings in the report: