Buyers and sellers have always been at opposite ends of the table. When the market is moving upward sellers want multiple offers and push buyers for every extra dollar they can get. When the market starts trending downward buyers will withhold offers until they feel they can negotiate a price that is at or below market value. Revenge can be sweet! However a recent survey may hold some clues about the difference between those who own a home and potential homeowners.
In a recent Survery by the Pew Research Center. Homeowners were surveyed about where they believe home values are headed. Of those surveyed 55% of sellers believe the value of their homes will increase modestly over the next few years, 10 % believe it will decline and 26% believe their home's value will increase substantially. I guess the other 9% have no idea what's happening. But it is interesting to note that even with the current declines in prices in the US housing market over 80% of sellers are upbeat about home values.
Buyers, on the other hand, may be mirroring similar numbers but with different results. That is most believe or perhaps hope prices will decline a lot over the new few years, some think prices will only decline slightly and a few believe prices will continue to increase. And again 9% have no clue.
What this may point out is the real dichotomy between those who own homes and those who don't is how these people view the future of housing. People who own are far more optimistic that their homes will increase in value even if not at the phenomenal rates of the last few years. People who don't currently own a home seem more pessimistic about ownership in general and values in particular. It may be that some potential buyers just aren't willing to take on the committment of homeownership unless there is a big profit at the end. For these people homes are more then shelter they are their financial future. Or it just may reflect a difference on how these groups view life. Some will always see the glass as half full and others see it as half empty.