Even the worst real estate market in living memory is insufficient to squelch Americans’ love of houses, judging by an Associated Press/GfK poll conducted at the end of May and beginning of June.
People’s outlook on the housing market has recovered significantly since last December, when 56 percent of respondents said it was a good time to invest in real estate. The figure rose to 64 percent in April and to 74 percent in the new poll. By contrast, fewer than half (43 percent) of the respondents said it’s a good time to invest in the stock market, up from 41 percent saying so in April and 33 percent in December. The fact that house prices have come down so much apparently makes a bigger impression on folks than the fact that prices are, by the latest measures, continuing to fall.
People who do own stocks are either content with the ones they’ve got or too shell-shocked to think about changing them. Fifty-one percent of investors said they’ve made no change in their holdings in the past 12 months. Just 9 percent reported making 10 or more changes in their portfolio in that period.