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News from the National Association of Realtors®

 

With caution, Americans still want a house

By Ben Rooney, staff reporterApril 6, 2010: 2:10 PM ET

NEW YORK (CNNMoney.com) -- Nearly two-thirds of Americans would still prefer to own a home, although the recent housing market turmoil and uncertain economy have made them a little more cautious about how and when, according to a survey released Tuesday.

A nationwide survey conducted by mortgage lender Fannie Mae found 65% of the homeowners and renters believe there is still value in owning a home.

But the survey also suggests that potential home buyers have become more cautious in the years since the housing bubble burst, giving rise to a wave of foreclosures and a severe recession.

"Consumers are still committed to owning a home, but are showing increased cautiousness," said Doug Duncan, chief economist at Fannie Mae.

He said the downturn in the housing market has led to a "rebalancing" of consumer attitudes towards homeownership. Americans are adopting a more realistic approach and are now less willing to take risks, he said.

The survey showed that home buyers are growing more concerned with longer- term priorities, as opposed to the house "flipping" mentality that characterized the market during the boom years.

Over 40% said personal safety was their main consideration when buying a home, while a third indicated that the quality of local schools was the dominant factor.


 

 


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    Send mail to hal.cutler@verizon.net with questions or comments about this web site. Surfside-Anacapa Real Estate is independently Owned and Operated. Harold "Hal" Cutler is licensed by the California Department of Real Estate #01138681.  Information contained herein is deemed reliable, but not guaranteed.  References to size or square footage is taken from public records but is not verified. If your property is listed with a Broker, this site is not intended as a solicitation of  the listing.  Property offered is subject to prior sale.  Consult a qualified specialist for legal or tax issues.
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    Last modified: May 09, 2010 11:44