That optimism is higher than residents of other countries, according to the Genworth International Mortgage Trends Report. Among the respondents’ reported obstacles to purchasing a home were:
—the local economic outlook;
—concerns about property affordability; and
—worries about future unemployment.
However, these economic concerns have not translated into excessive mortgage stress among U.S. home buyers. According to the survey, 87 percent of Americans who bought their first home in the past 12 months expected to easily meet their mortgage repayment obligations in the coming year, a slight improvement over the 85 percent in the 12 months prior. —Gazette staff