Negative view of housing market persists, study finds

Seven years after the housing crash began, most people remain deeply dour about the state of the nation’s housing market.

A new survey from the MacArthur Foundation found that 70 percent of Americans still believe a housing crisis remains today or that “the worst is yet to come.” Although that’s lower than the 77 percent who felt that way a year ago, it suggests double-digit percentage price gains in the past year haven’t inspired much confidence. Indeed, more than 40 percent of survey respondents said that the housing market remains a “serious” problem for the economy.

And that’s translating into a shift of opinion on the role of housing in personal finances, too. Respondents to the survey, which polled 1,355 people by phone in April, were nearly split on whether buying a house still represents an “excellent long-term investment.” Half of respondents said it still is a good investment; 43 percent said that is no longer the case.

Los Angeles Times