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Will a miracle heal the real estate market? Americans think so

A majority of Americans say Congress should stop meddling with the real estate market.

A majority of Americans say Congress should stop meddling with the real estate market.

To paraphrase the song written by British rock band Hot Chocolate, when it comes to the housing market, Americans really do believe in miracles.

In a poll conducted by Housing Predictor, an organization that forecasts more than 230 housing markets throughout the country, a majority of respondents said they believe a miracle will heal the real estate market.

According to the findings, 54 percent said the Obama administration should stay out of the housing market and let it correct itself, while 46 percent said the government wasn't doing enough to get things back on track.

Over the past two months of the new year, a wealth of studies, projections and surveys have given mixed signals as to how the housing market will come back in 2011. Homebuilders tend to be more pessimistic about their employment prospects, but economists and real estate agencies point to declining mortgage delinquency rates as an indication the housing market is primed for recovery.

While contrasting housing market indicators will continue, all indications suggest it's never been more affordable to own a home.