Today's Date: February 2, 2023
Global Prairie and Hileman Group Announce Merger   •   Food Safety Tips for Game Day   •   Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of National Vision Holdings, Inc.   •   Lucas Oil Opens Early Registration for Milestone 15th Annual Eric Medlen Memorial Golf Tournament on August 31, 2023   •   Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behal   •   KILL NI Joins OCIA Consortium to Accelerate Solutions to Climate Change   •   America's Frontier Fund Launches Strategic Innovation Group to Support Fund's Mission of Advancing Frontier Technologies in Amer   •   Minister Khera and Minister Duclos announce the appointment of a new member to the National Seniors Council   •   LSI and MedtechWomen Strengthen Partnership with New Member Additions   •   David's Bridal Opens Doors to House of Prom, a Limited-Time Exclusive Pop-Up Store Experience for Prom Goers   •   THE COMMUNITY OF OPITCIWAN SOON TO BE POWERED BY A FOREST BIOMASS COGENERATION PLANT   •   Tampa Thyroid Surgeon Selected as Finalist for Prestigious Tampa Bay Business Women Awards   •   THE GENERAL GOVERNOR OF CANADA ANNOUNCED AS CCDI'S 2023 UNCONFERENCE KEYNOTE SPEAKER   •   Upwardli Raises $2 Million in Series Seed Funding to Help the New to Country Unlock Access to Credit   •   Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Invivyd, Inc. f/k/a Adagio Ther   •   Dr. Andi Grant is appointed to CEO at BioOra   •   New Survey from BetterHelp Reveals Nearly Half of Americans are Stressed About Their Love Lives   •   Tsubame BHB receives order for small-scale ammonia synthesis facility   •   Ronald McDonald House Charities (RMHC) Announces Katie Fitzgerald as New President and CEO   •   MassMutual named to 2023 FORTUNE World's Most Admired Company list
Bookmark and Share

Minorities, Young Optimistic Over Homeownership

WASHINGTON  — Fannie Mae's latest national housing survey finds that Americans are more confident about the stability of home prices than they were at the beginning of 2010, even though they lack confidence in the strength of the economy:

Seventy-eight percent of respondents believe housing prices will hold steady or increase over the next twelve months, up from 73 percent in January 2010;
But almost two-thirds still believe the economy is on the wrong track, virtually unchanged (61%) from the beginning of last year.
The Fannie Mae Fourth Quarter National Housing Survey, conducted between October 2010 and December 2010, polled homeowners and renters to assess their confidence in homeownership as an investment, the current state of their household finances, views on the U.S. housing finance system, and overall confidence in the economy.

"Over the course of the last year, we gained deeper insights into Americans' confidence in the strength of the housing market and the economic recovery," said Doug Duncan, Vice President and Chief Economist of Fannie Mae. "More Americans believe that housing prices will remain stable over the next year. We also are seeing encouraging signs in the positive attitudes toward homeownership among younger Americans, despite the severe impact of the housing crisis on Generation Y. But most respondents to our survey continue to lack confidence in the strength of the economic recovery, and they are less optimistic about their ability to buy a home in the years ahead. This sense of uncertainty is weighing on the housing recovery today and reshaping expectations for housing for the future."

Other Survey Highlights

Younger Americans, Hispanics, and African-Americans are generally more positive about owning a home than the general population. Fifty-nine percent of Generation Y (ages 18-34) believes buying a home has a lot of potential as an investment, even though this age group suffered the steepest decline in homeownership during the housing crisis — from nearly forty-four percent when home prices peaked to under forty percent in 2009.

More than one-third of Hispanics (34%) and African Americans (35%) say they will buy a home in the next three years, compared to only one in four (23%) of all other Americans.

The percentage of Americans who believe that buying a home is a safe investment declined to 64 percent over the course of the year, from 70 percent in January 2010. This is down sharply from a similar survey conducted in December 2003, when 83 percent of the general population thought buying a home was a safe investment.

During 2010, survey respondents increasingly expressed a strong belief that it will be harder for future generations to obtain a mortgage. Three-quarters of those surveyed (74%) believe it will be harder to get a mortgage in the future, up from just over two-thirds at the beginning of 2010.

One out of three delinquent borrowers continues to say they have considered defaulting on their mortgage. However, that number fell from 39 percent at the beginning of the year to 31 percent in the fourth quarter. The number of delinquent borrowers who say they have seriously considered defaulting also has declined, from 25 percent in January 2010 to 19 percent.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America. 

READ FACT SHEET HERE


STORY TAGS: Fannie Mae , National Housing SurveyBlack News, African American News, Minority News, Civil Rights News, Discrimination, Racism, Racial Equality, Bias, Equality, Afro American News, Hispanic News, Latino News, Mexican News, Minority News, Civil Rights, Discrimination, Racism, Diversity, Latina, Racial Equality, Bias, Equality

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News