Most of the economists contracted for the most recent survey – 59 percent – still say there’s no national housing bubble, only “significant” local bubbles. Another 8 percent said there’s no bubble at all, and that the market is functioning correctly.
Asked to look five years into the future, 42 percent expected U.S. home prices to remain flat, 41 percent said prices should rise, and 16 percent predicted prices will fall.About three in four surveyed said they would buy a house today if they intended to use it as their primary residence.
Although many of those surveyed by NABE hold advanced degrees in economics and other business-related disciplines, many said they have little or no familiarity with the structure, activities and risks associated with the methods used to finance many mortgage loans today.
National Association of Business Economics, August 2007