In a recent Gallup poll, Americans were asked to rate 24 different business sectors and industries on a five-point scale ranging from "very positive" to "very negative." The poll was first conducted in 2001, and has been used as an indicator of "Americans' overall attitudes toward each industry".
For the first time since 2006, Americans had an overall positive view of real estate, giving the industry a 12% positive ranking.
Americans' view of the real estate industry worsened from 2003 to the -40% plummet of 2008. Gallup offers some insight into the reason for decline:
Prices Dropped
"In late 2006, real estate prices in the U.S. began falling rapidly, and continued to drop. Many homeowners saw their home values plummet, likely contributing to real estate's image taking a hard hit."
Housing Bubble
"The large drops in the positive images of banking and real estate in 2008 and 2009 reflect both industries' close ties to the recession, which was precipitated in large part because of the mortgage-related housing bubble."
Bottom Line
"Although the image of real estate remains below the average of 24 industries Gallup has tracked, the sharp recovery from previous extreme low points suggests it is heading in the right direction."
Original Source: Keeping Current Matters
Frederic Scovell is an experienced local real estate agent at the Coldwell Banker Gold Coast office in Chicago, IL. He can be reached at (312) 914-1045.
If you are thinking of buying a home or purchasing an income property, Bradford Miller Law, P.C. can help you every step of the way. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. To schedule a free 15-minute initial consultation with an experienced Chicago real estate lawyer, contact our office online at bradfordmillerlaw.com or call us at 1-312-238-9298. Meetings can be set up for weekdays, between 8:30 a.m. and 5 p.m. We charge reasonable fees for all services.
At bradfordmillerlaw.com you will find additional information regarding real estate transactions as a seller along with information about our firm.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
Offering free legal representation to homeowners seeking a short sale
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