Seven in 10 Consumers Expect Housing Bubble to Burst
Seven in 10 Consumers Expect Housing Bubble to Burst
Gallup Poll in association with Experian polled U.S. Consumers about their feelings on the market. Follow the link for an analysis of their findings.
In part, the article states:
- “Housing has been one of the key drivers of economic activity in the United States over the past several years. Building new homes not only creates jobs but also stimulates the purchase of a variety of consumer durables including appliances and home furnishings. More importantly, the growth of housing equity has had a pronounced wealth effect not only on consumer spending, but also on consumer borrowing.Currently, the housing sector is under assault from the double-whammy of increasing interest rates and surging energy prices. As might be expected, housing activity is slowing as consumers pull back from making major long-term commitments in the face of such economic pressures. “