Housing Predictor Poll Results 2007

Are you worried about the economic future of the U.S.?

Survey Shows Majority Worried About Economic Future

Tranquil waters of the Gulf of MexicoA large majority of online respondents say they are worried about the economic future of the U.S. Slightly more than 3 out of 4 surveyed say they are worried.

The online survey conducted during December, 2007 and completed in January, 2008 found that 76% of all those surveyed said they are worried about the nation’s economic future. Only 24% or slightly less than 1 out of 4 people surveyed said they are not worried about the economic future of the U.S.

Yes  –  76%

No   –   24%

Should the Federal Reserve make further interest rate cuts in order to improve the U.S. housing market?

Poll Shows Rate Cuts Needed

A large majority of those surveyed say the Federal Reserve needs to cut interest rates more in order to improve the ailing U.S. housing market.

The online survey found that nearly two out of three people or 64% said the Fed needs to cut rates further. Only 36% said the Fed does not need to cut interest rates to get the country’s real estate markets moving in the right direction.

The survey was conducted in November before Federal Reserve Board Chairman Ben Bernanke made comments indicating the Fed would do what it needed to do to keep the U.S. economy stable.

Yes  –  64%

No   –   36%

It’s been determined that mortgage companies have done everything they could to get more money to make more loans in the conventional, subprime and secondary mortgage markets by selling them on Wall Street like commodities.

Do you think mortgage companies artificially increased home values by doing so?

An over-whelming majority of home owners blame mortgage companies for artificially inflating U.S. housing market prices, according to the latest Housing Predictor survey.

Eighty-one percent of those surveyed online blame mortgage companies for coming up with new and exotic mortgages and making loans to subprime borrowers, some of whom should have never gotten the mortgages.

The loose lending standards have led the U.S. economy to the worst nationwide foreclosure crisis in history with 1-million homes that have already been foreclosed in 2007 and at least another 2 million forecast to be foreclosed through 2009.

Only 19% of those surveyed do not blame mortgage companies for artificially boosting the home market.

The survey indicates that mortgage companies have a long way to go to re-gain their customers trust, which has long been lost in the U.S. mortgage crisis. More than 120 mortgage companies have either gone out of business all together or filed for bankruptcy as a result of the crisis.

Yes  –  81%

No   –   19%

Are you afraid a mortgage of yours will be foreclosed?

A surprising one out of six American homeowners were fearful they’ll lose their homes through foreclosure, according to Housing Predictor’s September online survey.

The alarming figure of home owners, who fear they’ll be foreclosed comes as a result of rising mortgage defaults in light of the U.S. mortgage crisis, which has leapt into conventional mortgages from higher risk subprime loans.

Seventeen percent of those surveyed said they feared losing their homes. While 83% said they do not fear losing their homes. More than 3 million homes are forecast to be foreclosed by Housing Predictor through 2009 as a result of the mortgage melt down.

No   –   83%

Yes  –  17%

Do you feel appraisers provide an unbiased opinion of value?

A nearly over-whelming majority do not feel that home appraisers provide an unbiased opinion of value in their appraisals. Three-quarters of those surveyed in August, 2007 said they do not. The survey shows that appraisers have a long way to go to gain the confidence of their customers and that they are essentially working for the bank or mortgage company by which they are retained for their services.

No   –   75%

Yes  –  25%

With sub-prime mortgage losses climbing into the billions of dollars should Congress bail out the financial markets?

No   –   81%

Yes  –  19%

Do you believe the loan agent you worked with for a mortgage was ethical?

Loan agents and mortgage brokers are good sales people or good enough anyway to keep the public’s opinion divided on this issue. Americans are split on whether they’re ethical.

No   –   37%

Yes  –   47%

Don’t Know  –  16%

The FBI is investigating what they call an epidemic of loan fraud. Do you believe the fraud has had a negative effect on the real estate market?

No   –   20%

Yes  –   76%

Don’t Know  –  5%

Were you satisfied with your last real estate agents service?

No   –   46%

Yes  –   47%

Don’t Know  –  7%

Leave a comment

Your email address will not be published.