60 Percent of Americans Won't Buy a Home in Next Two Years

60 percent of American house holders are worrying about buying a house in next two years. One of seven is anxious about failing the monthly payment and almost 30 percent suggest that the house value will decrease, said the Associated Press-AOL Money & Finance poll, released few days ago.
Double feelings about mortgage crisis 2007 haven't dissapeared yet, on the contrary, people seem to fret about the current conditions. Comparing with 2006, the number of those, who surely won't buy a home has raised from 53 percent up to 60. Fact, that the bid exceeds demand and the current solicitous mood are important signs of deepen crisis.
15 percent from 2006 poll who intend to buy a mortgage have fallen down into 11. Today's market condition make even holding a house quite a luxury. One doesn't mention the buy or sell. As a matter of fact, the poll have find out that only 10 percent of householders have adjustable rate mortgages. Framed by the continious inflation mood, the greatest employment crisis so far as well as extremely expensive gas prices, the house sales entails into considerable loss.
Americans estimate to drop the house values along with continiously growth of estates. The highest prices should hit South while the West is expected to shrink. According the majority more than half of Northeast houses are overpriced.
Although it is not good time to sell, it' s definitely good time to buy, suggest specialists.Naturaly, the best choice is to fund your sell by cash, not via mortgage. Let's admit, that should impact only few of the richest. The rest is still striking the increasing mortgage rates, whilst falling existing home value.

The last decade hit the record as the golden age of housing. Accoring Gus Faucher, director of macroeconomics for Moody's Economy.com, a consulting firm more than 9 million homeowners owe more on their home, than its worth. He suggests that the home sales crisis have reached the bottom and probably won't change the direction untill early next year.
Analysts estimate that the mortgage crisis will hit the European real estate market during the year.

related story: http://news.yahoo.com/s/ap/20080414/ap_on_bi_ge/housing_crisis_ap_poll;_ylt=Ag8LeHXF7TU6x.6z0G7la46s0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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Edited by Iveta NAgyova