Nearly six-in-ten Americans say it is “unacceptable” for homeowners to stop making their mortgage payments, but more than a third say the practice of “walking away” from a home mortgage is acceptable under certain circumstances. Homeowners whose home values declined during the recession and those who have spent time unemployed are more likely to say that “walking away” from a mortgage is acceptable.
Through Boom and Bust: Minorities, Immigrants and Homeownership
The ups and downs in the U.S. housing market over the past decade and a half have generated both greater gains and larger losses for minority groups than for whites.
As Home Prices Cool Down, Homeowners Temper Their Optimism
Despite a record drop this past year in the median sales price of existing homes, more than eight-in-ten homeowners expect the value of their homes to go up either “a little” (55%) or “a lot” (26%) in the future. However, these anticipated levels of future gains are not nearly as great as the gains that homeowners say they’ve experienced in recent years.