3 of 4 Consumers Want to Buy Real Estate
According to a poll by Housing Predictor, originator of the most heavily watched studies in real estate, 3 out of 4 consumers polled want to buy real estate within the next 2 years. After a two year housing slump, this is certainly welcome news.
Ironically, record foreclosures are at least part of the reason for the real estate fever. It seems many consumers are willing to jump back into the housing game due to slumping sales, falling prices and interest rate cuts which make buying more secure and affordable.
To date more than 2 million homes have been foreclosed and the number of homes in the process of foreclosure are still increasing. Forecasts call for 5.6 million foreclosures through 2010 unless the Fed intervenes in a widespread manner, which is unlikely and possibly ill advised.
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