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Get Ready to Sell – Survey Says Consumers Want to Buy

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RISMEDIA, April 9, 2008-Following more than two years in a real estate slump, a large majority of consumers surveyed say they want to buy real estate within the next two years, according to a new Housing Predictor poll.

According to the company, three out of four respondents to the online survey said they will be in the market to buy property in the coming two years. Some even want to make their purchases sooner. Congress is working on a plan to aid some victims of foreclosure, which are already at record levels. But the proposals lack the ingredients to help more than a third of those that are facing the possibility of foreclosure. Housing Predictor forecasts foreclosures will top 5.6 million units through 2011.

The real estate crisis has developed into the worst financial crisis for the nation since the Great Depression, which Housing Predictor analysts forecast last year. It has sent shock waves through the Wall Street community and other financial markets, sending the nation’s economy on a downward cycle.

The company says that many consumers are willing to take the leap back into the market in even shorter time frames.

Demand on the part of prospective real estate buyers has increased as a result of slumping home sales, lower prices and the Federal Reserve’s series of interest rate cuts. The over-whelming majority of housing markets in the nation are forecast to deflate in 2008.

All time record numbers of foreclosures are at least leading in part to the nation’s thirst for investing in real estate. More than two million homes have already been foreclosed as a result of the real estate crisis, and higher adjustable rate mortgages many home owners have been unable to afford. Foreclosures are increasing and are forecast to worsen over the next three years unless widespread Federal intervention occurs.

For more information, visit http://www.housingpredictor.com.

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Categories: Real Estate