Consumers not optimistic about real estate market
U.S. consumers are not optimistic about the state of the real estate market. For many, its no longer a matter of “if”, but “when”. Consumers believe a national housing bubble will burst and home prices will collapse within the next year.
According to the Experian-Gallup Personal Credit Index study 71% of the 1,004 adults surveyed believe a bubble exists and could burst within the next 12 months. However, 56% of consumers don’t think it will happen where they live — at least not in the next three years.
The Gallup Organization’s chief economist believes that these findings are a result of all the hype surrounding several hot markets such as Manhattan, Washington, D.C., Miami, Las Vegas, San Francisco and Los Angeles. People just do not believe that it can continue.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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