Bubble schmubble: Poll says real estate OK

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United Press International: U.S. consumers are not buying the doom-and-gloom chatter about the end of the so-called housing bubble of rising real estate prices.

A survey commissioned by ING Direct found that three-quarters of respondents had ‘very little concern’ about the prospective value of their homes, the company said Friday.

The poll found that 85 percent of those who own a home believe that their home increased in value during the last three years. While homeowners felt their home has increased in value by about 6 percent over the past 12 months, they only expect their home’s value to increase by about 4 percent in the next 12 months.

Synovate, the global market research arm of Aegis Group PLC, conducted the phone survey of 1,000 people during April and May 2006 using a continental U.S. census-balanced group of homeowners with residential phone numbers.

Qualified respondents were at least partially responsible for making mortgage decisions and had owned a home for at least three years. Final data were weighted on respondent gender and geographic region to be nationally representative of homeowners.

Source: monstersandcritics.com