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A Nation’s Strong Belief in Homeownership

by The KCM Crew on September 16, 2011 · 7 comments

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  • Marvin

    Real Estate is a loosing investment at this time. End of story. No one finds the above self serving industry studies convincing. Your prior articles about it not being any value to wait was dead wrong.

    10.9 million, or 22.5 percent, of all residential properties with a mortgage were in negative equity at the end of the second quarter of 2011.

    The Fed estimated that the value of household real estate fell $65 billion to $16.18 trillion in Q2 2011, from $16.25 trillion in Q1 2011. The value of household real estate has fallen $6.6 trillion from the peak – and is still falling in 2011.

    Have a nice day!
    Marvin

    • http://www.steveharney.com Steve Harney

      @Marvin,
      Do you actually believe that the Pew Research Center, Fannie Mae,, the Gallup Organization, the New York Times and CBS News are all in the hip pockets of the real estate industry?

  • http://blog.mdsuburbanhomes.com Ken Montville

    While this infographic may accurately represent the feelings of the average consumer about home ownership, it doesn’t really tell the whole story.

    Yes, consumers may have very positive feelings about home ownership. However, buying a home is much harder nowadays vs the early 2000s. Even after you take away over lenient underwriting guidelines and exotic mortgage products from the 2000s, you still have all the homes in mortgage distress or, as one company puts it, “bank mediated” home sales.

    These “bank mediated” homes are in horrible physical condition and take extended periods of time to process and settle.

    NOW may be the time to buy, NOW may be the time when consumers feel positive about the home ownership experience but nothing good will happen until lending institutions begin to lend to borrowers with little money saved.

  • Marvin

    Steve a couple if items:
    Regarding the idea real estate headlines are driving down the market in my opinion is incorrect.
    The bad real estate market is making headlines the headlines are not making a bad market. On the opposite side there are headlines on any micro uptick that happy days are hear again.Despite the wipsaw headlines I think people understand the current market state and ignore the “experts” on both sides. This is the worst real estate market in USA history.

    If somone did not realize the diffence between this recession and typical recessions and the reasons why – It should be obvious by now we wont be going back to the boom days any time soon. That is not an argument that America is on the decline. It is fact about the current economic state of the planet.

    Regarding “Was it better to buy in 2010 or 2011″. Not sure where the question mark is. Both mortgage and home prices are clearly lower than a year ago. Prices are down 5% from a year ago. Mortgate rates ae down to record lows. If you choose to ignore that or search for alternative views, that is your choice. The overwhelming evidence show prices have fallen and continue to fall. http://cr4re.com/charts/charts.html?Home-Prices#category=Home-Prices&chart=RealHousePricesJune2011.jpg

    The elephant in the room and the only real estate engine in this market – distressed sales and how to navigate, and help help buyers cash in on those great deals is apparently being ignored. Clearing the foreclosures will inprove the entire real estate market and the economy. I would like to see some articles that show the falling market prices and the bargains that need to sell before the market can return to normal. This topic seems to be taboo here. It is time to use the disease to cure the disease. Ignoring it is not making it go away.

    With banks like Bank Of America opening the flood gates on foreclosed homes, features showing the the bargains in various markets with a compariosn of the price of that house before the bubble pop will sell more homes than studies about whcih air freshner will sell your house.

    Buyers are looking for the best deals in history. Why not help make that happen.

  • http://www.mohrhomes.com Janet

    Today, you can buy a home at a rock bottom price with a ridiculously low interest rate! Add the fact that a large percentage of recent home owners are now renting because of short sales and will be buying again as soon as their credit gets cleared…..plus the fact that there have been no new homes built to speak of since 2007……Supply and Demand!!! That is what it is all about. Anyone not buying now has no foresight!

    The only problem I see is the Dodd-Frank Act which has taken away the free market in Real Estate and is causing our housing prices to stay lower than they should be! Repeal, repeal, repeal!!!

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