Fannie Mae Posts Survey Results on Consumer Attitudes About Personal Finances and Housing
Mar 12, 2012 (Close-Up Media via COMTEX) --
Americans' concerns about key economic and housing issues are beginning to subside, according to results from Fannie Mae's February 2012 National Housing Survey.
According to a release on March 7, consumers' attitudes have stabilized across most indicators including personal finances, housing, and employment demonstrating their sense that downside risks have abated somewhat compared to late summer and fall of 2011. While Americans' confidence in the direction of the economy has been the most pronounced (35 percent think that the economy is on the right track, up 19 percentage points since November, and 57 percent think the economy is on the wrong track, down 18 percentage points since November), their confidence about personal financial situations, household income, and household expenses, as well as attitudes about homeownership and renting is holding at steady levels. At the same time, Americans' concern about losing their job in the next 12 months has stabilized since the late fall, with 76 percent of Americans saying they are not concerned in February 2012, compared to 70 percent in November 2011.
"The pickup in the pace of hiring over the past few months has helped soothe consumer concerns, lifting their moods regarding their personal finances, the direction of the economy, and their views on the housing market," said Doug Duncan, vice president and chief economist of Fannie Mae. "As a result, we've seen more potential for economic upside, creating a more balanced near-term outlook."
The Fannie Mae National Housing Survey polled 1,003 Americans via live telephone interview to assess their attitudes toward owning and renting a home, mortgage rates, homeownership distress, the economy, household finances, and overall consumer confidence.
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