Despite turmoil in the housing markets that includes record foreclosure numbers, mortgage rate increases and home price depreciation, homeowners don't believe there's a real estate slump, according to a new poll.
Most - 55 percent - are confident that their homes continued to increase in value compared with a year ago, according to a nationwide telephone survey conducted this month by The Boston Consulting Group (BCG), a business and management strategy firm.
The overconfidence of homeowners doesn't jibe with the findings of most home-price indices, which point to lower median single-family house prices of about 2 percent nationwide.
"Americans [are] positive about their homes' value and believe in a bounce-back in residential real estate overall," said BCG Senior Partner and consumer spending expert Michael Silverstein.
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Most - 55 percent - are confident that their homes continued to increase in value compared with a year ago, according to a nationwide telephone survey conducted this month by The Boston Consulting Group (BCG), a business and management strategy firm.
The overconfidence of homeowners doesn't jibe with the findings of most home-price indices, which point to lower median single-family house prices of about 2 percent nationwide.
"Americans [are] positive about their homes' value and believe in a bounce-back in residential real estate overall," said BCG Senior Partner and consumer spending expert Michael Silverstein.
Discuss Add this link to... Bury
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