35% of Americans want a housing crash, poll says

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“Is the Housing Market Headed for a Crash?

A recent poll conducted by LendingTree revealed that a significant portion of US adults, especially among the younger generations, are hoping for a housing market crash. The poll found that 35% of respondents, particularly Gen Z-ers and millennials, wish for a market downturn to make homeownership more affordable.

The desire for a housing market crash is not uncommon, as many Americans are familiar with seeking out bargain deals in various aspects of their lives. However, the current housing affordability crisis has led to genuine fears about the future of the market, especially among younger non-homeowners who believe that a significant price drop is the only way they can afford to purchase a home.

The poll also highlighted that even current homeowners are also expressing hopes for a market crash, citing reasons such as lowering property taxes and stabilizing the market. The overall sentiment seems to be that falling prices are seen as a quick solution to the affordability crisis.

Looking ahead, the poll found that a significant portion of respondents believe that the housing market is at risk of a crash in 2024. This sentiment is particularly strong among millennials and Gen Z-ers, indicating a generational divide in the perception of housing market conditions.

However, the concerns about a potential housing market crash are not unfounded, as factors such as high mortgage rates and soaring home prices have already led to a drastic decrease in sales volumes. This has left the market in a state of crisis, reminiscent of previous housing market crashes in history.

In conclusion, the poll highlights the contrasting views of sellers and buyers on home values, with price declines being the top concern for homeowners but less of a worry for non-owners. As the housing market continues to fluctuate, it is important for both current and prospective homeowners to stay informed about the latest developments in the real estate market.

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