Survey Shows Most are Happy Homeowners

RISMEDIA, May 14, 2008-Despite the worst slumping real estate market that the U.S. has experienced in at least seventy years, the large majority of people are happy with their homes, according to the latest survey from Housing Predictor.

More than two out of three respondents to the online poll said they were “happy” with their homes, indicating the majority of Americans are comfortable with their living standards. Housing Predictor regularly surveys visitors to its website on major real estate related issues, and offers more than 250 local housing market forecasts in all 50 states.

The survey comes at a time when Americans are particularly concerned about their futures as the nation’s economy lingers in economic chaos, triggered by the credit crunch. Consumer confidence and employment levels are falling as gasoline prices edge upward.

Congressional lawmakers are mired in a draft of White House veto announcements and have failed to agree to a plan to aid the national economy in the real estate crisis. Housing Predictor, which has maintained a record of being right in more than eight out of ten of its forecasts has projected that more than 5.6 million foreclosures will occur through 2011 if major legislation is not passed to aid homeowners.

The crisis is a drain on the nation’s economy amid tumbling stock prices and a weakening overall financial structure, which has made it more difficult for homeowners to refinance their homes and for new buyers to obtain mortgages to purchase property.

The survey indicates, however, that the majority of those surveyed are happy with their living environments. Only an estimated seven percent of all homeowners are having trouble paying their mortgages or have been affected by the foreclosure epidemic. As more than one million more homes adjustable rate mortgages re-adjust this summer, however, foreclosures are expected to continue to increase.

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

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