Housing Prices to Collapse?? 47% Think Yes. - US.

Experian-Gallup Survey Shows Nearly Half of Consumers Say Housing Price Collapse Is Possible in Their Local Residential Real-Estate Market
Thursday February 1, 6:00 am ET

"COSTA MESA, Calif., Feb. 1 /PRNewswire/ -- According to the latest Experian-Gallup Personal Credit Index(SM) survey, nearly half of all consumers (47 percent) say they think a housing bubble and collapse of housing prices is very likely (16 percent) or somewhat likely (31 percent) in their local residential real-estate market within the next three years. This is up from the 37 percent of Americans who felt this way in May 2005 and the 42 percent voicing this opinion in April 2006. More information for the Personal Credit Index(SM) can be found at www.PersonalCreditIndex.com."

""Housing market conditions may not have reached bottom at this point, with 57 percent of renters thinking there is the potential for a price collapse in their local areas over the next few years and 18 percent of all Americans expecting prices to decline during the year ahead," said Ty Taylor, president of Experian Consumer Direct. " Full Article.