Buying a house is likely to be a lot different — but could be a lot better — in the years ahead, says Gallup’s chief economist Page: 123 A GMJ Q&A with Dennis Jacobe, Ph.D., Gallup’s chief economistThe mortgage finance system is broken. Housing prices continue to decline. In 2010, nearly 26% of all home sales were foreclosed houses. What’s more, although the number of foreclosures was down in the first quarter of 2011 compared to the previous quarter, it is expected to increase in the months ahead. So does this foretell the end of the so-called American dream of homeownership? In my view, the housing finance system is on life support. Not by a long shot, you might be surprised to know.