With more cities home prices now in double dip lows, the number of adults who believe the recovery will be pushed past 2014 jump from 34% in November 2010 to 54% in April 2011. Additionally, the number of respondents who felt the recovery would occur by 2012 dropped from 27% to 15%.
Although recent reports have questioned the performance of foreclosure prevention programs, such as Home Affordable Modification Program and the Home Affordable Foreclosure Alternatives Program, 45% of respondents feel that the government is not doing enough to prevent foreclosures.
Respondents noted an expectation of purchasing a foreclosed home with 56% of renters and 47% of current homeowners felt somewhat likely to buy a previously foreclosed home. On average, these respondents expect to pay 38% for a foreclosed home versus a non-foreclosed home.
The survey, conducted online between April 15-19, 2011, included 2,018 U.S. adults aged 18 and older.