Gallup has been polling Americans for 45 years on their take on the housing market and for the second year in a row a majority think now is a bad time to invest in a home. In fact, the percentage who remain optimistic has dropped to 21%, nine points less than the number a year ago.
Back in 1978 when the question initially was posed for Gallup's poll, 53% thought it was a good time. Even more or 67% agreed in 1991 when it was asked again, though a recession then loomed as oil prices climbed after Iraq invaded Kuwait, the Federal Reserve attempted to tame inflation and debt from the 1980s accumulated, according to a Federal Reserve Bank of San Francisco report.
Why the Switch Occurred
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