This is Why Americans Are Losing Confidence in the Housing Market

By on September 28, 2018

From MarketWatch:  Owning a home, that time-honored life milestone, used to simply be what you did as an adult in America, and for many people home ownership was the ultimate indicator of life success and social status. But times have changed.

According to Fannie Mae, a mere 24% of Americans feel that now is a good time to buy a house. Looking back to 2013, when 54% of consumers were confident about the housing market, it feels as if a lot has changed in a small amount of time.

The housing market is far from a perfect science, but there are trends that could be influencing homeowner behavior and confidence, such as:

  • Rising house prices
  • Salary stagnation
  • Generational trends
  • Relatively high interest rates

All of the above have hurt consumer confidence in the housing market. How did we get here? Let’s unpack the above drivers to better understand the state of home ownership in 2018, and what the federal government is doing to reinvigorate the housing market.

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