Gallup Poll Finds: "What's A Bubble?"
A Gallup poll finds some confusion among consumers regarding housing and interest rates. "Our latest survey showed that few consumers are aware of a possible housing bubble. This is troubling because if there is a housing bubble some consumers with mortgages could end up upside down, meaning they will owe more on their mortgage than their home is worth."
"Only about a quarter of all consumers have heard of a potential 'housing bubble'. However, when told that a housing bubble is when the prices of houses have increased so quickly and gone so high that it's like a bubble that could burst and suddenly there could be a big drop in the price of houses, about four in ten consumers say it is either very or somewhat likely that such a situation could occur in their area within the next three years."
Maybe this guy is right. "I can now safely say that the TOP in the consumer housing market is here. 1) Donald Trump was just paid $1 million to give a 45-minute talk on getting rich in real estate to 40,000 drooling wannabe millionaires at The Learning Annex. 2) Every non-business newspaper I read this week (The Washington Post, L.A. Times and San Francisco Chronicle) had at least TWO FULL-PAGE ads for seminars claiming to be able to teach me how to make $50,000 in just 90 days in residential real estate. 3) I read this Andrew Carnegie quote five times this week: “90% of all millionaires made it through real estate.” (The fact that Carnegie said this so long ago that buggy whips were a growth industry shouldn't be forgotten.)"