Economic Crisis: Homeowners Take Another Hit

Geography Surveyed: Continental United States

Data Collected: 10/10/2008

Release Date: 10/10/2008 16:30 ET

Snapshot of America in the Middle of an Economic Collapse -- Half of USA Homeowners Worry They'll Be Late with the Mortgage: 1,200 Americans interviewed by SurveyUSA as the Dow Jones Industrial Average descended toward 8,000. 78% say they understand what is happening to the economy. Of them:

3 of 4 have cut back on their spending, enough to strangle this economy or any other. Of those who have cut back:

1 in 4 have cut back 10% on their spending.

1 in 4 have cut back 20% on their spending.

Almost half have cut back 30% or more on their spending, which foreshadows a possibly violent contraction.

56% say it's fair to call what is happening with the economy a "crash."

Half of homeowners are worried about being late on the mortgage.

3 of 4 renters are woried about being late with the rent.

1 in 4 have changed how or where they keep their money, to put it some place more safe.

Perhaps worst of all, 6 in 10 have no confidence in the government's ability to fix the economy, unchanged from a SurveyUSA tracking poll conducted before the US Congress passed an economic rescue package, that so far has not appeared to rescue anything.

 

1

  Asked of 1200 Adults

  Margin of Sampling Error for this question = ± 2.4%

 

Do you understand what is happening to the US economy?

 

78%

Yes

19%

No

3%

Not Sure

 

2

  Asked of 725 split sample of those who understand what's happening

  Margin of Sampling Error for this question = ± 3.7%

 

Is it fair to call this a market "crash,? Unfair to use the word crash? Or, do you not know enough to say?

 

56%

Fair

27%

Unfair

17%

Don't Know Enough To Say

 

3

  Asked of 740 homeowners

  Margin of Sampling Error for this question = ± 3.7%

 

Do you worry a lot? A little? Or do you not worry ... about being able to make your mortgage payments?

 

27%

A Lot

29%

A Little

43%

Do Not Worry

1%

Not Sure

 

4

  Asked of 227 renters

  Margin of Sampling Error for this question = ± 6.6%

 

Do you worry a lot? A little? Or do you not worry ... about falling behind on the rent?

 

47%

A Lot

27%

A Little

26%

Do Not Worry

0%

Not Sure

 

5

  Asked of 569 who work outside the home

  Margin of Sampling Error for this question = ± 4.2%

 

Do you worry a lot? A little? Or do you not worry ... about losing your job?

 

30%

A Lot

32%

A Little

38%

Do Not Worry

0%

Not Sure

 

6

  Asked of 988 Adults

  Margin of Sampling Error for this question = ± 2.9%

 

Have you changed how or where you keep your money to make it more safe?

 

24%

Have Changed

72%

Have Not

4%

Not Sure

 

7

  Asked of 988 Adults

  Margin of Sampling Error for this question = ± 2.8%

 

Some people have cut back on spending, others have not. How about you?

 

75%

Have Cut Back

22%

Have Not

3%

Not Sure

 

8

  Asked of 739 who have cut back

  Margin of Sampling Error for this question = ± 3.7%

 

How much have you cut back?

 

26%

10%

26%

20%

18%

30%

8%

40%

17%

50%

4%

Not Sure

 

9

  Asked of 1200 Adults

  Margin of Sampling Error for this question = ± 2.8%

 

Do you have confidence? Or no confidence? In the government's ability to fix the economy?

 

25%

Confidence

62%

No Confidence

13%

Not Sure

 

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  Complete Interactive Crosstabs

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  Statement of Methodology

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