Destin, FL – September 20, 2011 – (RealEstateRama) — A new opinion poll shows that Americans feel home prices won’t improve in the next five years enough to pull millions of underwater homeowners out from being upside down on their mortgages.
The just released survey found that respondents feel strongly about the impact of the financial crisis with a large majority saying home prices won’t recover fast enough to pull upside down homeowners out from under. Visit Housing Predictor for full details on the new survey.
The poll demonstrates what a major impact the housing collapse has on Americans, which started in the subprime mortgage market before spreading to every corner of the U.S. economy. Three years after the financial crisis exploded on Wall Street, loans for homes and businesses are still hard to get as the U.S. economy faces the likelihood of a double-dip recession.
Mortgage lenders have tightened mortgage underwriting criteria as a result of the crisis and the record number of foreclosures, which pull down home values in neighborhoods that experience the hardship sales.
Housing Predictor tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country, regularly surveys visitors about important real estate related issues and keeps visitors up to date on real estate news and mortgage rates.
