I can think of many explanations for the stagnation of the U.S. housing market.
Among those that come to mind are consumer confidence, tight credit, the nation’s and world’s economies, and unemployment.
But a survey released by HomeGain that I recently came across may well rank near the top. I can’t imagine a more graphic illustration of our housing woes than the disconnect that the third-quarter survey disclosed between what sellers and buyers view as the value of homes.
Although I learned only that more than 500 real estate agents and brokers in addition to 2,500 homeowners responded to the questions, I’ll make the rash assumption that the survey’s methodology was scientific. If so, consider this startling information: Continue reading