Housing Survey - 2015
Federal Reserve Bank of New York
Download Document| Date Published | 2015 |
| Version | |
| Primary Author | Andreas Fuster and Basit Zafar |
| Other Authors | Micah Smith |
| Theme | |
| Country | United States |
Abstract
The SCE Housing Survey – 2015 indicates that attitudes toward housing as a financial investment remain decidedly positive. U.S. households, on average, expect home price growth to continue at a 4.4 percent pace over the next year, comparable to the average year-ahead expectation reported in last year’s survey. Survey respondents expect mortgage rates to increase in coming years, but at a moderate pace. Among homeowners, the expressed likelihood of investing in improvements to the home has declined somewhat relative to last year. Most renters report that they would rather own than rent if they had the necessary financial resources; as in last year’s survey, a majority of them believe that it would be difficult to obtain a mortgage, although responses suggest a slight easing in perceived credit access.