Wow, looks like that nasty real estate downturn is finally history now. What a relief!
At least that's what a big majority of real estate agents and a growing number of homeowners across the country think, a new survey by HomeGain finds.
After years of pessimism over the direction of home prices, real estate sales folks are finally once again seeing the sunny side of things.
In fact, the numbers are pretty amazing - 80 percent of real estate folks and 62 percent of homeowners see prices going up over the next two years. By contrast, just 5 percent of agents and 14 percent of homeowners polled see home values going down between now and 2014.
Still, I wonder if we are all reading and listening to the same business and economic news.
Apparently not, given the latest HomeGain poll numbers.
The debt and now economic crisis in Europe and the looming "fiscal cliff" in Washington should raise questions as to whether this growing optimism about home prices is grounded in reality or wishful thinking. Massachusetts and its innovation driven economy are particularly vulnerable to both draconian budget cuts in Washington and growing economic trouble overseas,warns Michael Goodman, co-editor of local economy tracker MassBenchmarks.
Right now, it certainly seems like anything could happen on the global economic stage - including a second recession.
If that happens, all bets are off when it comes to home prices.
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