write this at 7 a.m. EDT before I head out for about nine miles of walking the ups and downs of Lexington Golf Club in Lexington, VA. The 36-hole event (see article below) I'll follow features a half dozen college teams from the area, including my son's, Washington & Lee University. I'm already exhausted, but not from contemplating the walk but rather from reading the latest poll results this morning about the housing crisis. Same old same old bad news.
In the Associated Press-AOL Money & Finance poll, according to the Wall Street Journal
, more than 25% of homeowners say they worry that their homes will lose value in the coming two years. One in seven mortgage holders fear they will be delinquent on monthly payments over the coming six months and more than a quarter worry their home will lose value over the next two years.
Such pessimism, as you would expect, is tamping down people's plans for purchasing another home. Six in 10 respondents said they definitely will not buy a home in the next two years, up from 53% who said the same thing in the same poll in September 2006. Just about 11% plan to purchase a home soon, down from 15% two years ago.
If you are in that 11% group of eager buyers, the candy store is getting larger and the candy getting more reasonable, by the day. You can find the entire Wall Street Journal article here.
If you are not Journal
subscriber and can't access the article, let me know (see contact button at top of page), and I will email you a copy.