Report: Home Values Drop

" Mr. Scott Rasmussen and his Rasmussen reports just 49% of Americans say their home is worth more than their mortgage. That is down from a month ago joining us now another first on Fox Business interview kids. Scott Rasmussen of Rasmussen reports not exactly the most bullish or optimistic of statements by America. Not at all down the number who believe their home is worth more than mortgages down five points from a month ago it's down twelve points since December. It's another indication that people think the current status of the economy is just not very strong. And I think we're starting the -- longer term indicators. It beginning to reflect the reality that people think something is not. This is not just a short term correction something longer. Is in play now if you want of a silver lining. The number who think their home will go up in value over the next year is now 25%. That's up from 16% a month ago. Yeah I you know you look at the numbers and -- okay -- we go and you bash people where is the real estate market going. I guess the good news that there -- little more optimistic on back. They're a little more optimistic in the short run but when you look longer term 54%. Say that there house will be worth more in five years. And that's down a little bit since last December but think about that. Five years from now just half of the homeowners say the value of their home is going to go up that's not what people would come to expect over the last generation I thought that was an automatic. The people who are believing that their house is underwater right now bail more out there even more pessimistic. Less than half of those folks think the value of their homes -- go up. So we have a situation were awful lot of Americans think that even after five years and some hope for economic recovery. They still be able to sell their house they gonna cash out ground hey you know and that bleeds into a lot of other big issue Scott right I mean. If you don't if you're underwater and you don't think your house is going to be worth more than you owe on it for ten years. You know what true incentive to refinance your what's your incentive to engage in when these government or private sector programs why stay in the home. Other than personal honor was. Heck they're -- this this is this the settling into reality the people or dressing and it and it's a big problem. Like many other economic issues out there -- people lower middle income into the store the the -- are more concerned. -- houses underwater that are less convinced the house will go up in value they have fewer options. And you know this is a nation where half of the people don't have any money left over the end of the month. When they're just from paying a regular bills so it's going to lead and other issues as we settle for this in the next few years Hart Scott Rasmussen president of Rasmussen reports Scott always a pleasure thank you for joining us."