Markets & Economy

MacArthur Foundation: The housing crisis is not over for 7 in 10 Americans

Most want government to do more to make housing affordable

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

While steady home price appreciation may have real estate professionals and economists thinking the housing market is on the mend, it does not not feel that way to the vast majority of homeowners and renters, according to a survey from the MacArthur Foundation. Seven in 10 respondents believed we are still in the midst of the housing crisis (51 percent) or that the worst is yet to come (19 percent). Only a quarter agreed that the crisis is "pretty much over." More than 2 in 5 think the housing market continues to be a serious problem, the foundation said. Its second annual How Housing Matters Survey was conducted via phone interviews over cellphones and landlines in April. It had 1,355 respondents and included an oversample of owners and renters who pay more than 30 percent of their income on housing "to gain insight into the experience and attitude of those whose housing situation may be considered distressed," the foundation said. The survey found that over the past three...