Americans Feel Good About Finances, Housing

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Americans are feeling better about their personal financial situation and that optimism is expected to help boost the housing market in the coming year. According to Fannie Mae’s October National Housing Survey – which polls Americans to assess their attitudes toward buying a home, the economy, household finances, and more – found that the share of respondents who say they expect their financial situation to worsen in the next year fell to just 10 percent and the number that expect it to improve rose to 45 percent, nearing an all-time survey high. Doug Duncan, Fannie Mae’s chief economist, said consumers are growing more optimistic about their personal finances and the results may help drive a healthier housing market in 2015. According to Duncan, the fact that the gap between the number of Americans who say it is a good time to sell a home and those that say it’s a good time to buy a home has been narrowing indicates the housing market should be more evenly balanced over the next 12 months. Participants also expect home prices, mortgage rates, and rent to rise in the next year. More here.

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