Survey: Half of consumers say housing price collapse possible

Public sentiment appears to be shifiting. From The Central Valley Business Times:

Nearly half of all consumers (47 percent) say they think a housing bubble and collapse of housing prices is very likely (16 percent) or somewhat likely (31 percent) in their local residential real-estate market within the next three years, according to an Experian-Gallup survey.

This is up from the 37 percent of Americans who felt this way in May 2005 and the 42 percent voicing this opinion in April 2006 in similar polls paid for by Costa Mesa-based Experian.

Fears of a potential housing price collapse are greatest in the West (52 percent) and the East (49 percent) but lower in the Midwest (41 percent) and the South (44 percent).