Tuesday, December 20, 2005

Rich People Survey: Floridians Confident, New Englanders Not

What goes up, must go... maybe up, maybe down. In a survey of 1500 wealthy Americans nationwide, PNC Financial Services found New Englanders had "the most conservative expectations"for home prices -- one in 10 respondents expect a 20 percent or more increase over the next five years, 18 percent expect a decline. Nearly twice as many New Yorkers (19 percent) expect a 20 percent gain, while 20 percent expect a decline. Californians -- pretty confident. Floridians? Positively brimming -- 50 percent "expect the value of their primary residence to grow by more than 20 percent over the next five years." We want to know about Floridians' second homes. And wanna bet PNC will pump mortgage products in the Sunshine State before targeting those darn Yankees?

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