As reported in the OC Register, 12/7/10

58% of US adults are expecting the housing market’s recovery to take at least another 2 years, a new real estate survey shows.

Year of
recovery		% U.S.
adults
Already recovered 4%
2010 1%
2011 10%
2012 27%
2013 24%
2014 12%
2015 or later 22%

A quarter believe things won’t improve until 2013, and more than a fifth don’t see an upside until 2015 or later.

The flap over the so-called “robo-signing” of foreclosure documents led half of U.S. adults to say they now have less faith in mortgage lenders, banks and the government, according to the survey, sponsored by Trulia.com and RealtyTrac.com.

Another 35% think  the robo-signing issue will delay real estate’s recovery.

“More and more, American homeowners, -sellers and -buyers are tamping down their expectations for a swift recovery in the housing market and bracing themselves for a long, slow climb back to a healthy real estate market,” said Pete Flint, co-founder and CEO of Trulia.com.  “Fifty-eight percent believe recovery will happen after 2012 and more than one in five U.S. adults believe recovery won’t happen until 2015 or later.”

“Government incentives have come and gone and historic lows in interest rates have done little to spur recovery,” he said.  “Then, as if prospective buyers and sellers needed more to be concerned about, the robo-signing issue caused a ‘what’s next?’ fear to surface in the minds of consumers who, frankly, have lost faith in banks and their government to make good decisions.”

Let me know what you think.....When do you think the real estate will start it's upswing again ?

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