Most households see housing as a good financial investment despite a slight drop in home price growth expectations, according to the Federal Reserve Bank of New York's Survey of Consumer Expectations Housing Survey.
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"Mortgage rate expectations have declined since last year's survey, and renters' perceived access to mortgages has become easier," according to the Fed.
The mean one-year expected price change was 3.3% in this year's survey, down nearly a percentage point from the past two years. "The declines were broad-based across income levels and across geographic regions," the Fed said.
