People haven't been this optimistic about house prices since just before the crash

[Zorro]

House prices are soaring and, despite warnings from some analysts, most Americans believe they will continue to soar.

A majority of U.S. adults (64%) continue to believe home prices in their local area will increase over the next year, a survey released this week by polling firm Gallup concluded. That’s up nine percentage points over the past two years and is the highest percentage since before the housing market crash and Great Recession in the mid-2000s.

The level of optimism is edging closer to the 70% of adults in 2005 who said prices would continue rising. That, of course, was less than one year before the peak of the housing market bubble in early 2006, which was largely fueled by a wave of subprime lending. (Roughly one-quarter of respondents in both 2005 and 2018 said they believed house prices would remain the same.)

In 2009, during the depths of the Great Recession, only 22% of Americans believed house prices would rise. But optimism about the housing market has made a slow recovery—along with the market itself—in the intervening years. Today, only 10% in the Gallup survey believe prices will fall. That compares to 5% who felt similarly pessimistic in 2005, just two years before the crash.

https://www.marketwatch.com/story/americans-havent-been-this-optimistic-about-buying-property-since-just-before-the-housing-crash-2018-05-07

[sunRISEnow]

1. About December 2011 the houses were at there low. They have steadily risen and are still over

inflated. I am selling my home now and waiting for the market to do something before buying because right now, they are at an all time, ridiculous high that cannot stay where they are sitting.

[Doodley]

2. It is unsustainable. I believe it will come crashing down.

[BigmanPigman]

3. There isn't enough affordable housing as it is.

Rents are astronomical and people are working two jobs as it is. How can anyone afford these prices? Southern CA prices are about as high as they were before the crash.

[JayhawkSD]

4. Actually, in San Diego, significantly higher than before the crash. nt

[dalton99a]

5. History will repeat itself

It's inevitable

[Chakaconcarne]

6. Grab your home equity loans quick !

[magicarpet]

7. 2nd, 3rd, and 4th home equity loan...

..... just like before the crash.

Teaser loans, pay the interest only for five years, then re- mortgage before the balloon payment comes due. Then suck all the equity out on the refinance.

Get a boat, new car and truck, snow mobiles and ATVs, and a summer camp - live large - ain't capitalism grand - who needs nasty socialism ? America is in hock up to the gills.