Friday, July 4, 2008

Survey... People won't be buying a house anytime soon.

CNN has recently been pumping some "We are now at the bottom Propaganda". Larry King has had a few episodes recently with cheerleader NAR types loudly trumpeting that we have hit the bottom and now is a great time to buy!!!!!!111one!

Well this survey below basically proves otherwise...

In a recent poll conducted by Harris Interactive and commissioned by the National Apartment Association (NAA), 1,258 homeowners, 563 renters and 228 people who live with friends or family were asked about buying and renting in the current housing market.

Key Survey Findings

* 69 percent of renters plan to stay renters for at least five more years.
* 71 percent of those surveyed believe there are advantages to renting vs. owning
* 80 percent of respondents believe the housing market will not improve over the next six months.
* 72 percent of homeowners will stay in their home for at least another year.

Of the current renters who were surveyed, 69 percent say they plan on staying renters for at least five more years. Fifty percent say they will stay in their current residence unless forced to leave.

The vast majority of survey respondents--71 percent--agree that there are advantages to renting vs. owning in today's housing market. Forty-eight percent cite financial reasons, while 32 percent appreciate the flexibility of a short-term lease.

More than three-quarters of the 2,000+ people surveyed think that the troubles currently plaguing the housing market will get worse or stay the same over the next six months.

Thanks Homeguide123 for posting the survey

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