Destin, FL – June 11, 2012 – (RealEstateRama) — Respondents to an online poll have given the U.S. government a no confidence vote when it comes to helping the real estate market. An over-whelming majority of 83% say the government will not take major steps to help the housing market.
The sweeping decision comes five years and more than 7 million foreclosures after the housing market collapse. Housing values in the majority of the country have suffered major losses, which few observers feel will ever be attained again in their life times. Home prices have fallen in all 230 U.S. cities Housing Predictor tracks, some by as much as 80% from the markets peak highs.
Despite losses in home values, many areas of the country, however, are seeing home prices increase with record low mortgage rates driving home buyers back into the market.
Especially hard hit cities in many areas of the country, including the five states hit hardest by the collapse, including Arizona, Nevada, California and Florida are seeing an increase in home sales, mainly as a result of deeply discounted foreclosure properties and bank short sales.
Housing Predictor regularly surveys consumers on issues closely related to the real estate industry, monitors and issues forecasts on more than 230 U.S. cities housing markets and offers the latest mortgage rates and real estate news.