Posted by: Marvin Remmich | December 15, 2010

Majority of Americans expect housing to recover after 2012

Nearly 60 percent of Americans who responded to a recent survey expect the housing market recovery to take at least another two years.  The survey, which gauges home buyers’ attitudes toward foreclosed homes, was conducted by Harris Interactive® on behalf of Trulia and RealtyTrac.

When asked about their faith in lenders, half of U.S. adults surveyed said they have less faith in mortgage lenders, banks, and the government as a result of the recent robosigning events.  An additional 35 percent believe the robosigning issue will delay the housing market’s recovery, while 6 percent think robosigning will not have any effect on the housing market recovery.

Nearly half of homeowners with a mortgage said they would consider walking away if their mortgage was underwater, an increase compared with May 2010, when 41 percent said they would consider walking away from an underwater mortgage.

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