Banks, real estate now viewed positively

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Banks, real estate now viewed positively

September 9, 2014

 

home for saleTwo industry sectors hit hard by the recession are recovering their images. Americans are now viewing the banking and real estate industries in a positive light, according to a Gallup poll.

Each year since 2001, Gallup has asked Americans to rate 24 different business sectors and industries on a five-point scale ranging from “very positive” to “very negative.” The net ratings are the difference between the positive and negative ratings for each industry, reflecting Americans’ overall attitudes toward each industry. The most recent data were collected from Aug. 7-10 as part of Gallup’s annual Work and Education poll.

Banking had a net positive rating of 8 for the first time since 2007. Real estate was up as well with a net positive rating of 12. It was the first time real estate has been viewed positively since 2006.

Net positive views of banking increased 18 points from 2013, while opinions of real estate rose 11 points.

Many banks suffered financially as a result of falling home prices because some were heavily involved in offering risky mortgage loans, and thus closed or faced significant hardship in 2008 and 2009. This may have been a key reason why Americans’ image of the banking industry overall went downhill. Its rating tanked in 2009.

Real estate was up from an all time low of -40 in 2008.

 

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