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Survey Finds Pessimism Prevailing in the Housing Market

A new survey finds that many Americans are still extremely pessimistic about the state of the housing market—many even believe that the worst of the mortgage foreclosure crisis that began in 2008 is yet to come.
June 29, 2016, 12pm PDT | James Brasuell | @CasualBrasuell
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Robert Couse-Baker

Kriston Capps shares news of a new survey from the John D. and Catherine T. MacArthur Foundation finding that one in five Americans say that the worst is yet to come from the housing crisis. The survey is contained in the recently released "How Housing Matters" report.

Capps shares more of the poll's findings, but an important trend is apparent when comparing this year's results from polls in previous years.

19 percent of poll respondents said that the worst is yet to come. And the share of respondents who gave that answer, polled between April and May of this year, is virtually unchanged from the share who responded the same way in 2015 (20 percent), 2014 (19 percent), and 2013 (19 percent).

Poll questions also asked about support for policy mechanisms to address housing affordability. Respondents expressed support for everything including the kitchen sink in their answers. Among the policy mechanisms finding support, according to Capps:

  • Revising federal income tax code for families making between $40,000 and $70,000.
  • Expanded federal support for families making less than $30,000.
  • Giving renters a tax break similar to the federal mortgage interest tax deduction.
Full Story:
Published on Tuesday, June 28, 2016 in CityLab
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