MoreIn last week’s CI CyberNews CyberPoll, we asked if readers thought that Lowes’ better-than-expected fourth quarter profits indicated that the worst has passed for the housing market. Most of the respondents (43.8%) do think the worst has passed, while 37.5% answered “no” and 18.7% of respondents are unsure. On the other hand, the majority of readers (81.3%) agree that this does not mean that a robust housing recovery is on its way.
Comments included:
“Too many people are underwater on their mortgages for a robust recovery. Any recovery depends on people not making the economically prudent decision of walking away from their underwater mortgages. It will be several years before we see any substantial gains in the housing market.” -- Janelle Baranowski, PIDC
“A weak recovery in housing is likely this year and beyond. Returning to pre-recession levels of housing activity will take 4-5 years.”
“Interest rates will increase as will inflation. The federal gov't can’t continue to spend money at the rate.”
“Unless unemployment starts to improve the market will not rebound robustly. Also the commercial market will make borrowing very difficult.”
Many thanks to all of the CI CyberNews readers who have participated in our CyberPolls! Not a CI CyberNews subscriber? Follow this link to sign up for your free subscription!
Comments included:
“Too many people are underwater on their mortgages for a robust recovery. Any recovery depends on people not making the economically prudent decision of walking away from their underwater mortgages. It will be several years before we see any substantial gains in the housing market.” -- Janelle Baranowski, PIDC
“A weak recovery in housing is likely this year and beyond. Returning to pre-recession levels of housing activity will take 4-5 years.”
“Interest rates will increase as will inflation. The federal gov't can’t continue to spend money at the rate.”
“Unless unemployment starts to improve the market will not rebound robustly. Also the commercial market will make borrowing very difficult.”
Many thanks to all of the CI CyberNews readers who have participated in our CyberPolls! Not a CI CyberNews subscriber? Follow this link to sign up for your free subscription!
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