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Sun May 13, 2018, 10:33 PM

People haven't been this optimistic about house prices since just before the crash

House prices are soaring and, despite warnings from some analysts, most Americans believe they will continue to soar.

A majority of U.S. adults (64%) continue to believe home prices in their local area will increase over the next year, a survey released this week by polling firm Gallup concluded. That’s up nine percentage points over the past two years and is the highest percentage since before the housing market crash and Great Recession in the mid-2000s.

The level of optimism is edging closer to the 70% of adults in 2005 who said prices would continue rising. That, of course, was less than one year before the peak of the housing market bubble in early 2006, which was largely fueled by a wave of subprime lending. (Roughly one-quarter of respondents in both 2005 and 2018 said they believed house prices would remain the same.)

In 2009, during the depths of the Great Recession, only 22% of Americans believed house prices would rise. But optimism about the housing market has made a slow recovery—along with the market itself—in the intervening years. Today, only 10% in the Gallup survey believe prices will fall. That compares to 5% who felt similarly pessimistic in 2005, just two years before the crash.

https://www.marketwatch.com/story/americans-havent-been-this-optimistic-about-buying-property-since-just-before-the-housing-crash-2018-05-07

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Reply People haven't been this optimistic about house prices since just before the crash (Original post)
Zorro May 2018 OP
sunRISEnow May 2018 #1
Doodley May 2018 #2
BigmanPigman May 2018 #3
JayhawkSD May 2018 #4
dalton99a May 2018 #5
Chakaconcarne May 2018 #6
magicarpet May 2018 #7

Response to Zorro (Original post)

Sun May 13, 2018, 10:43 PM

1. About December 2011 the houses were at there low. They have steadily risen and are still over

 

inflated. I am selling my home now and waiting for the market to do something before buying because right now, they are at an all time, ridiculous high that cannot stay where they are sitting.

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Response to Zorro (Original post)

Mon May 14, 2018, 12:28 AM

2. It is unsustainable. I believe it will come crashing down.

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Response to Zorro (Original post)

Mon May 14, 2018, 01:01 AM

3. There isn't enough affordable housing as it is.

Rents are astronomical and people are working two jobs as it is. How can anyone afford these prices? Southern CA prices are about as high as they were before the crash.

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Response to BigmanPigman (Reply #3)

Mon May 14, 2018, 10:04 AM

4. Actually, in San Diego, significantly higher than before the crash. nt

 

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Response to Zorro (Original post)

Mon May 14, 2018, 10:11 AM

5. History will repeat itself

It's inevitable

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Response to Zorro (Original post)

Mon May 14, 2018, 04:55 PM

6. Grab your home equity loans quick !

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Response to Zorro (Original post)

Mon May 14, 2018, 06:55 PM

7. 2nd, 3rd, and 4th home equity loan...

..... just like before the crash.

Teaser loans, pay the interest only for five years, then re- mortgage before the balloon payment comes due. Then suck all the equity out on the refinance.

Get a boat, new car and truck, snow mobiles and ATVs, and a summer camp - live large - ain't capitalism grand - who needs nasty socialism ? America is in hock up to the gills.

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