While many indicators suggest the housing market is on the road to recovery, some fear another bubble is already forming. ""Country Financial,"":http://www.countryfinancial.com/ a financial services company based in Bloomington, Illinois, found in a recent survey that 48 percent of Americans say the market could reach a bubble over the next two years.[IMAGE]
The Country Financial ""survey"":http://www.prnewswire.com/news-releases/many-americans-predict-short-lived-housing-recovery-but-dont-care-228743391.html also found varying financial obstacles across the generations of Americans in the housing market.
While nearly half of Americans say we may be headed toward another bubble, only 6 percent say the housing market is their top economic concern at the moment, according to Country Financial.
The housing market ranks in the top three economic concerns for about 25 percent of Americans, according to Country Financial.[COLUMN_BREAK]
""Perhaps the government shutdown and debt ceiling are eclipsing just how concerned Americans are about the housing market right now, but with home prices up 12.4 percent in the last year alone, concerns for an 'echo bubble' of the housing market collapse certainly make sense,"" said Troy Frerichs, director of investments and wealth management at Country Financial.
Meanwhile, Zillow ""this week"":https://themreport.com/articles/home-value-appreciation-set-to-ease-over-next-year-2013-10-18 dismissed bubble fears, finding home value appreciation fell off over the past three months.
However, bubble or no bubble, many Americans continue to suffer financial burdens that impede them from homeownership, and according to Country Financial, ""the obstacle that tops the list for each generation is different.""
Generation Y and those headed for retirement--between the ages of 50 and 64--in the next few years tend to lack the cash for a down payment.
Those ages 40 to 49 cite job security as their greatest obstacle to owning a home.
Lastly, debt is the biggest barrier for those in their 30s, according to the Country Financial survey.
About 41 percent of Americans think a middle-income family can afford a home in today's market.
Of those who do own a home, about 27 percent say they will not have their mortgage paid off when they retire. The rate is even higher--37 percent--among those nearing retirement age--50 to 64, according to the survey.