With all the news about foreclosures and bankruptcies, and confidence at an all time low about the economy, a new survey shows that many Americans who are renting are planning a future home purchase. The survey conducted by relocation.com and reported by credit.com states that 24% of the 60% renters were previous homeowners and are currently searching for a home to purchase.
The report went on to say that those that were looking to buy again were not renting due to foreclosure, and that foreclosures had declined by 70%.
"While the housing market continues to flux from month to month, we're seeing strong, continued interest as consumers looking to move start their research with us," said Relocation.com chairman and founder Sharon Asher. "These findings suggest that more Americans may be poised to re-enter the housing market this year."
Still most feel that employment is the key to a stronger housing market, and the unemployement rate did drop last month. However, that drop was largely attributable to a large number of workers dropping out of the labor market, and suspending their job search.
It's all very hard to figure out these days. Just when you think you understand where we are headed, another surprise comes up!
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