Entry for April 10, 2008-Sacramento State University Talks to Future Home Owners
Despite living in an area with one of the highest foreclosure rates in the nation, 63 percent of Sacramentans believe 2008 is a good time to buy a home, according to a recent survey of 1,200 residents conducted by Sacramento State University’s Institute for Social Research. Forty-seven percent said now is a good time to buy, while 16 percent said waiting six months would be better. Affordability, cited by 50 percent of respondents as a barrier in the 2006 survey, was identified as an obstacle to homeownership by only 36 percent of those surveyed in 2007. Although more optimistic about the home-buying market, 75 percent believe it will be at least two years before the Sacramento housing market recovers, and 58 percent said they worry at least some of the time that their income will not be sufficient for them to pay their bills.
