Most Americans Think Home Prices Will Rise Over Next Year
NEW YORK, Sept. 23, 2013
NEW YORK, Sept.23, 2013 /PRNewswire/ -- Most Americans (55%) think home
prices will go up over the next 12 months, according to a new Bankrate.com
(NYSE: RATE) report. Twenty-seven percent say they will stay the same and just
nine percent forecast a decline. Upper-middle-income households (those earning
between $50,000 and $75,000 per year) are the most optimistic; 65% expect
prices to rise and just 6% expect prices to fall.
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In July, Bankrate established that 23% of Americans believe real estate is the
best way to invest money not needed for more than 10 years. That was the
second-most common response, slightly behind cash.
"It seems like Americans' love affair with real estate has returned," said
Greg McBride, CFA, Bankrate.com's senior financial analyst. "But there are
still some clear headwinds, including rising mortgage rates, stubbornly high
unemployment and the relatively low U.S. household savings rate."
Bankrate found that Americans' financial security turned negative in September
for the first time since February. The Financial Security Index slipped from
August's 100.5 reading to 99.5 in September. Readings below 100 indicate
deteriorating financial security compared with one year previous.
The readings on debt, net worth and overall financial situation dropped from
August to September. Americans' comfort level with their debt took the biggest
hit; those feeling less comfortable than one year ago (21%) now outnumber
those feeling more comfortable (17%).
Savings remains a drag on financial security, with those feeling less
comfortable with their savings now compared to one year ago outnumbering those
feeling more comfortable by a margin of greater than two-to-one. Whether
looking at age group, income bracket or educational attainment, no group feels
more comfortable with their savings now versus last year.
On a bright note, just one-in-eight employed Americans feel less secure in
their jobs now than 12 months ago, a new low since polling began in December
The survey was conducted by Princeton Survey Research Associates International
(PSRAI) and can be seen in its entirety here:
PSRAI obtained telephone interviews with a nationally representative sample of
1,002 adults living in the continental United States. Interviews were
conducted by landline (500) and cell phone (502, including 258 without a
landline phone) in English by Princeton Data Source from September 5-8, 2013.
Statistical results are weighted to correct known demographic discrepancies.
The margin of sampling error for the complete set of weighted data is plus or
minus 3.6 percentage points.
About Bankrate, Inc.
Bankrate is a leading publisher, aggregator, and distributor of personal
finance content on the Internet. Bankrate provides consumers with proprietary,
fully researched, comprehensive, independent and objective personal finance
editorial content across multiple vertical categories including mortgages,
deposits, insurance, credit cards, and other categories, such as retirement,
automobile loans, and taxes. The Bankrate network includes Bankrate.com, our
flagship website, and other owned and operated personal finance websites,
including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com,
CreditCardGuide.com, Nationwide Card Services, InsuranceQuotes.com,
CarInsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.ca,
NetQuote.com, and CD.com.Bankrate aggregates rate information from over 4,800
institutions on more than 300 financial products. With coverage of nearly 600
local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct
rate tables capturing on average over three million pieces of information
daily.Bankrate develops and provides web services to over 80 co-branded
websites with online partners, including some of the most trusted and
frequently visited personal finance sites on the Internet such as Yahoo!, AOL,
CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over
500 newspapers on a daily basis including The Wall Street Journal, USA Today,
The New York Times, The Los Angeles Times, and The Boston Globe.
For more information:
Public Relations Manager
SOURCE Bankrate, Inc.
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