Industry NewsMarkets & Economy

Surveys show doubts about stimulus

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Recent surveys of Realtors and consumers by two real estate Web portals reveal some skepticism about the government's effort to turn the economy and housing markets around -- and suggest consumers put less faith in incentives for homebuyers than the industry. A twice-a-year online survey commissioned by Trulia Inc. found that only 5 percent saw economic incentives for homebuyers as the single most important step the Obama administration could take to restore "the American Dream of homeownership." Seven percent saw lower interest rates as the most crucial factor, while one in five said the biggest emphasis should be on getting banks to renegotiate the terms of financially troubled homeowners' mortgages. Most of the 2,076 consumers surveyed Feb. 20-24 by Harris Interactive for the "Trulia American Dream" survey (53 percent) said "creating jobs and job security" were the single most important thing government can do to restore faith in homeowners...