New York Times/CBS Poll: Homeownership
is an Important Part of the American Dream
Nearly nine in 10 Americans say homeownership is an
important part of the American dream, according to the latest New York
Times/CBS News poll. And they are keen on making sure it stays that way, for
themselves and everyone else.
A persistent belief endures
that the market will eventually improve and housing will regain its traditional
importance. Donna Boyd, a transportation supervisor in Cuyahoga Falls, Ohio,
acknowledged "it might take a long time” for property values to go back up.
"But I don’t think I’m throwing my money away,” she said in a follow-up
interview. "I rented for years when I was younger, and I just don’t like the
idea of putting money in someone else’s pocket for something I will never own.”
-- "Americans See Risks And Rewards In Homeownership,” by David Streitfeld and Megan Thee-Brenan, New York Times (subscription required), June 30, 2011.
NAR:
Pending Sales of U.S. Existing Homes Rise by 8.2%
The
number of contracts to buy previously owned U.S. homes rose almost three times
as much as forecast as falling prices made properties more affordable. The
surprising 8.2% increase in the index of pending home resales from April
followed a revised 11% drop the prior month, the National Association of
Realtors said. Economists forecast a 3% gain, according to the median estimate
in a Bloomberg News survey.
-- "Pending Sales of U.S.
Existing Homes Rise by 8.2%, Almost Triple Forecasts,” by Alex Kowalski, Bloomberg, June 29, 2011.HUD Secretary: "In the Long Run,
it’s a Good Time to Buy”Prices
for U.S. homes may climb as soon as the third quarter, ending declines as
foreclosures decline make more homes available for sale, Housing and Urban
Development Secretary Shaun Donovan said. "It’s very unlikely that we will see
a significant further decline,” Donovan said on CNN. "The real question is when
will we start to see sustainable increases. Some think it will be as early as
the end of this summer or this fall.”Home
sales have increased in six out of the past nine months and the number of
property owners in default is declining, Donovan said. Housing prices will
begin rising as the number of foreclosures declines, he said. "In the long run, it’s a good time to buy,”
Donovan said. "It’s so affordable today compared to where it’s been for
generations.”
-- "U.S. Home
Prices Poised to Climb as Foreclosures Wane, HUD’s Donovan Says,” by Kim Chapman, Bloomberg, July 4, 2011.
Tags:
homeownership , sales up , home prices climb
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