A large majority of Americans believe home prices will stabilize over the next 12 months, according to the latest national housing survey from Fannie Mae. Nearly four out of five Americans (78 percent) believe housing prices will hold steady or increase over the next 12 months, up from 73 percent a year ago. But nearly two-thirds (61 percent) still believe that the economy is on the wrong track, which is unchanged from last year.
The survey also finds that younger Americans, Hispanics and African-Americans have more positive views about owning a home than the general population. Almost six out of 10 Americans between the ages of 18 and 34 say buying a home has potential as an investment, while 34 percent of Hispanics and 35 percent of African-Americans say they expect to purchase a home within the next three years, compared to only one in four (23 percent) of all other Americans. Tue, Mar 1, 2011