Santa Rosa Beach, FL – April 12, 2011 – (RealEstateRama) — Housing appreciation will take a number of years to materialize again after the downturn in most local U.S. housing markets, according to the findings of a new Housing Predictor survey. Consumers are cautiously optimistic about the market with more than 1 out of 3 surveyed saying it will take more than five years for the market to appreciate.
At least homeowners and other U.S. consumers feel markets will appreciate in time, however, as the economy recovers from the worst downturn in the real estate market since at least the Great Depression. Get all the details on the latest Housing Predictor opinion poll at Housing Predictor dot com.
Foreclosures have resulted in 7-million homeowners losing their homes since the housing mess started with momentum growing for the crisis to reach the 16.5-million foreclosures forecast. Upside down mortgage holders are walking away from their homes in rising numbers as the nation struggles with a weak economy.
Historically housing leads the U.S. economy out of economic recessions. Housing Predictor tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country and keeps visitors up to date on real estate news and mortgage interest rates.