That the Housing Market is cooling, new Opinion Survey seem to indicate americans are optimistic about the housing sector and rising home values as we take you through the latest data and pulled this morning. Asking our viewers how optimistic or pessimistic are you about the Housing Market. Tell us how you see the market in the eastern and central u. S. 202, 202 585 3881. You can also catch up with us on all your favorite social media pages on twitter, facebook, or cspan. Org. T journal we will talk about the data points of the Housing Market, this is courtesy of bloomberg. After a roller coaster at gate a roller coaster decade of boom and busts according to reports this week, Mortgage Applications plunged 19 from a year earlier that is some of the data points from bloomberg news. Now some of the opinion polls. At this from gallup. Out fromt poll coming the annual economy and personal finance pull. It notes that americans have a growing optimism about the Housing Market with 56 of america 56 of americans expecting their value of home prices to increase. You can see the chart here, the dark green line showing the increase. Houses willthere increase in price. 34 saying they will stay the same and the 10 saying they will decrease. The gallup poll was found in 2008. Public optimism outweighed pessimism and it has only gone up from there. We want to hear from viewers about their home prices, how optimistic are you . Here are some comments coming in from our Facebook Page, facebook. Com cspan. Kathy writes and it is the Government Holding back the Housing Market, dodd frank, the poor economy. Government needs to get out of the way. Below that greg writes in, one more comment from our Facebook Page this morning, that diane writes you can comment on our Facebook Page and join the conversation there. Diane talking about eating out. Rom the past we want to bring in the Vice President from realty trac from california. Thank you for getting up with us on washington journal. Explain the definition of according to your report that came out last week. We look at the loantovalue loansbetween combined that are still outstanding on the property and the estimated value of the property. Loans are worth at least to me five percent more than estimated value of the property, we are considering that seriously underwater. This is not just people who are a little bit underwater or people who are in a pretty deep. Ole still they will need another rise of 20 in home crisis at least before they are close to breaking even. Your data breaks down the 10 metro areas that are still seriously underwater, according to a chart you can find on realty trac. Com. The metro area with the most seriously underwater home, 7006000 homes still seriously underwater. Lauderdale, coming in at 458,000. A pretty big jump from the top metro area down to miami and fort lauderdale. What do you account for for the large jump. Is it the huge size of that chicago market . It really has to do with that huge metro area. Percentagewise we are looking at 30 of homes underwater. When you look at it by the metro area with the highest percentage of underwater homes is las vegas. Hundreds of thousands of home owners are stuck and not able to participate in the housing recovery. Column host how does that compare to this point last year . Caller a year ago we saw 10. 7 million homeowners who were still seriously underwater. That represented 26 of all homeowners with a mortgage. Now it is down to 9. 1 million representing 17 . The numbers have come down dramatically the past year thanks to the bounce back in home prices. We are seeing that pace slow quarter freeourth and now we are down to 9. 1 million. We start to see the home price appreciation number. Lowdown as well we have seen a huge chunk of the underwater folks recover their equity or at least break even over the last year. Of we believe it is going to be a longer road for the remaining 9 million as home prices slowdown. Host what sort of dragged to those 9. 1 million folks what kind of dragged is that put on the overall housing economy . Caller i think it is the biggest challenge left over from the housing crisis. What these represent our homeowners that are stuck in their homes. They dont have enough equity to sell so they did not become those typical moveup buyers you would see in the Housing Market. That is part of the reason we see low Housing Inventory in the market. Even those two are breaking even on their equity. Those homeowners are waiting until they rate in enough equity where they feel comfortable to sell their homes. For those homeowners individually it means they do not have that wealth in their homes. They are not going to have that confidence because of as much confidence in the not going to have as much confidence in the economy. The second effect is more on the macro market. When you do not have the moveup buyers participating in the market you are relying more on the Housing Market and on investors and firsttime homebuyers. You have the middle of the Housing Market. That is going to make it harder you have two of the legs of the housing recovery in place and you can argue that firsttime homebuyers are not participating as much. You do have invested fit investors and firsttime homebuyers. Host he is the Vice President of realty trac freedom we have been bringing in comments from our viewers, asking them if they are optimistic about the Housing Market in their areas. If you are writes there are areas around the country in the deepest water when it comes to this equity issue. What are the metro areas that are doing the best right now . There is a Positive Side to this when you look at some of a highro areas that have percentage of equity rich homeowners. These are people that have at least 50 equity in their home. At the top of that list is san have california, where we seen a rebound in home prices over the last year and a half. That is followed by honolulu and San Francisco. Poughkeepsie, new york is on there with 34 equity rich. Eddie nine has percent of the homeowners we would call equity rich. Los angeles even has 32 equity rich. Those are some of the markets. The coastal california has recovered their values very quickly. They were fairly hardhit during the crisis. If you look at a market like sacramento and california, 37 of the homeowners are equity rich. And phoenix, i was going to point out, the numbers are lower there but that was one of the epicenters of the housing crisis. It should put them in a position to feel confident enough that either they are going to run the economy. Host come Vice President of realtyice president of trac. Some of the indicators he is seeing in cities there. Lets go out to anaheim. Dan is on a special line we have set up for folks who are buying or selling homes. How optimistic are you about the Housing Market . Caller i am very optimistic. I am not a slumlord, i buy property, refurbish it to the top, then rented out. I am very optimistic. If you go by zip code, you have buses that never boomed. 2008 we have 3 million homes finance. Sale thee house for beach properties, which took a your last guest was talking about honolulu and San Francisco, those are the most expensive places to live. The zip codes that took the biggest hit have recover. The houses that are most affordable are being purchased, whether it is investors, firsttime buyers, what have you. I think those are good indicators from somebody who is a low sixfigure guy. Host how much trouble are you running into or are you running into any trouble in financing these days post housing bubble . Caller absolutely no problem. I have a model where i buy two each purchase. I have a rental on the property and the property i can go visit. I have a home in the mountains, the beach, the desert. No problem at all with the. Inancing from ourwant to hear viewers this morning in this first segment in a washington journal today. You can call in at too many houses were built during the housing bubble so prices are destined to fall eventually. I am saving money until the economy gets better. , a recentt subject story by neil irwin of the New York Times addressing the Housing Market and why some folks are choosing not to enter it. That ifs in his piece the economy still feel suck still feel stuck blame the Housing Market. Reality that is more important for the national economy. Is nowhereousing close to pulling its economic weight. That then to write bigger Thing Holding back housing is simply demand. It may yet to prove to be temporary but for now at least millions more are doubling up with roommates, living at home with parents, and otherwise finding ways to avoid the one thing that would get housing economy back to normal. Ins go to danielle waiting rocks, new york. It morning. Tell us about the Housing Market in your area. Caller in our area specifically we are looking at houses to get into. A twobedroom cottage and it makes no sense. Obamacare were renting an apartment where our rent is about 2000 and we even lost our health insurance. Its really hard and complicated. Host what is your plan at this point . Are you going to stay put and how long do you think you will have to stay put for . Caller its not my choice, its the government costs choice. If the people of that washington can see that, we would be more than happy. Little moret a on that piece in the New York Times this morning to a large degree that can be explained by young people choosing or forced to remain home longer than they have in previous generations. Toeven percent of 18 40yearolds lived with their parents and now that shares up to 31 . That is attributable to lingering parts of the defect that struck young adults particularly hard. For young adults it is an important element in the story. Even people who have jobs are more than often living with their parents. 25 ine has risen to 2013 from 22 in 2007. Piecen read more of this at nytimes. Com. We will go to joe waiting in georgia. Caller i am pretty upbeat. I would say within a 10 mile radius of me i am in a county just immediately north of atlanta. I would say there is 15 subdivisions that are either new or selling homes in the three to 600,000 range that in the 3000 300,000 to 600,000 range. Thet of it has to do with fact that the state and the individual counties have made such a huge effort to invest in education and parks. Quality of life is great and schools are often the northern counties. That makes a difference for families and the desire to be here. The activity is very high. I am very optimistic. Host on twitter we want to hear what the Housing Market looks like in your area. Here is a frontpage story in todaysition addition otdays edition of the Anniston Star the story writes we want to hear what it is like in your part of the country. Bob is waiting in st. Paul minnesota. Caller i think part of the problem is the regulations that are set up by the local communities have been stifling housing for a long time. I am an older fellow. My mom and dad out their first house in the 1950s. It was only 800 square feet. That was a brandnew home. Communitieshese will let you talk to them about building a house is only 800,000 square feet only 800 square feet. I think until there is a reality of what people can afford and the blow inr folks their investment and homes, not everybody can start off with 500,000 homes. That back himcale us there is more starter homes. Host you may be interested in this story that just came out this week. The headline this is the explanation, the author of the story he compares the houston market to the San Francisco market. There is a chart showing off the rise building permanents ash authorized Building Permits for there is a blue chart showing authorized towing permits for houston. San francisco is more expensive. San francisco has better weather. It is not growing as fast as houston. That is the power of regulation, not just in the city but in the surrounding suburbs. Comparing boston openingnta areas, that up the spigots of development and high demand areas could considerably reduce Housing Affordability problems and create tons of new jobs in the construction center. Most of the areas of the country where Housing Demand is strongest are generally the areas most lyrically dominated by leftwing people who are reluctant to increase a d regulatory agenda. If you want to read more about that we want to hear about housing in your part of the country, including annapolis, maryland, where. Is waiting. Caller the one woman who said she wanted to get the federal government out of it, i am an economist. We have nationalized the Housing Market. We have done that by taking all the risk away from the lenders and banks and shifting it to freddie and fannie. Without the government taking the risk, we wouldnt have much of a housing industry. We need to slow down on housing. Way basically if the government was not involved it would collapse. The housing industry would collapse. Have you considered Student Loan Debt . We talk about people getting into the Housing Markets on our twitter page. Thatf the folks rights and students are two buried in Student Loan Debt. That is the explanation they give to what is going on in the Housing Market. Caller that is exactly what is happening. 1. 2 trillion dollars in Student Loan Debt and then on top of that the Unemployment Rate for 26 i believe it is Something Like 12 . Is not there because these people are overwhelmed, they are doubling and tripling up. The demand is not there. We are eventually going to have to make some attached some adjustment and not have the government funding at all. Host thank you for the call. On twitter one of the explanations that was given for what is going on in the Housing Market and one of the stories we have read was over regulation. Ares an explanation for store that also came out on their Online Edition this week. To blame. Ages are people are not just buying new houses or refinancing old ones 4. 9 according to stats. You can read more the story at mother jones. Com. We are asking about Housing Markets in your area. In tallahassee florida, good morning. Caller good morning. I live in a neighborhood where homes are 13 or 1400 square feet. Homes run 165,000 dollars. Theyre selling within two weeks or three weeks. Not only do they have good prices but the taxes arent killing them like they are in other states. Host are you a homeowner . Are you optimistic about what that means for the value of your home . Caller yes but i am not concerned about that. Here and to enjoy my life, not being buried in debt is something people are. Host enjoy it down there in tallahassee, florida. On twitter you can follow the conversation on twitter by following us. Hear how optimistic you are about the Housing Market. We also want to keep you updated on some of the headlines going on around the country. We talked about president obamas overseas trip to asia. Heres the crucial day crucial trade deal. The japanese save the position is still far apart, talking about the president to japan. Obama highlights influences in the caribbean region. It is the headline from the pittsburgh postgazette. In the philippines, heres the headline. The centerpiece of the trip to the philippines is expected to be a new agreement of enhance cooperation. After nine months of negotiations, manila in washington announced in early april they produced a draft of that agreement, fueling expectations the pack would be formally signed in mr. Obamas visit. That is on the agenda. Mr. Obama touched down in malaysia. Of flight 370 hangs over that malaysian visit. The question of what exactly happened to flight 370 is still unanswered 50 days after. President obama arrived here saturday. Expected to discuss the missing jet in a private meeting. Is missing. That is the news coming out of the overseas trip. We have 15 minutes to talk about the Housing Market. We want to hear about it in your part of the country. Rent it is waiting in delaware. Good morning. Caller i am in delaware. My neighborhood is a middleclass neighborhood. Throughout the years i have seen more and more houses become abandoned. I just feel like the whole littlein itself can be a better because anytime i see a foreclosed house that has been on the block for four or five years and i am calling the numbers on there and i cant get in touch with anybody or find out how i can purchase this house, i think that is a problem. Problem,ink it is a getting lawyers and doing all i think it is real frustrating. Im paying 1500 for rent. Somebodyo reason why shouldnt want to sell you a house. It is the same companies that buy these houses that have them written out at high prices. Fix it up the top dollar. Topy area people cant pay dollar. Delaware is the second smallest state. About it being frustrating for people trying to navigate the process of buying a home. Is this something new buyers have to deal with or is there government orl state governments can step in and make that process easier . Caller i heard of sony people that got halfway through the process and realize they did not have enough money and lost the money they did put in. Host thank you for ca