Faith in home values persists

04/11/2007

By David Streitfeld,
LA Times Staff Writer
April 11, 2007

Americans are worried about the economy and believe that a recession is looming, but their faith in real estate remains fierce, according to a Los Angeles Times/Bloomberg poll.

Nearly a third of those polled predicted home values in their neighborhood would increase in the next six months. Only 16% anticipated a decrease. The rest said values would hold steady.

Call it foolish faith or bold optimism, the forecast is at odds with the downward trend of home prices.

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