It's encouraging to see more people acknowledge the housing recovery. Fannie Mae, in a recent housing survey, found that 48% of respondents believe home prices will rise in the next 12 months, while the percentage that expects prices to drop remains at a survey low 10%.

In addition, most of the respondents Fannie Mae's surveyed had an overall positive view of housing. Sixty-four percent – a high percentage – even said they would buy a home if they were to move in the next three years. (Let's hope they do.)

Though bullish on housing, these same respondents were much less bullish on the economy and their personal finances. Only 20% of respondents said their household income is higher today than it was a year ago. More discouraging, the percentage of respondents who believe their personal financial situation will worsen over the next year rose by 4 percentage points to 21%.

There's a dichotomy at work: housing doing well, many other segments doing not so well. We are unlikely to get a full-fledged housing recovery until the other segments of the economy start doing well.

For the other economic segments to do well, we need less uncertainty: That means clarification and consistency on regulations, taxes, and government spending. Until that occurs, much of the economy will continue to sputter and putter along, and this will eventually drag on the pace of the housing recovery.

Courtesy of Jessica Regan.

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