Study: 55% of Americans Believe They Will Lose It All if a Recession Hits the United States
According to a recent survey by Clever, a real estate data company, nearly three in four Americans fear there will be a recession this year, and 69% of survey participants say the US is already in a recession. To make matters worse, 55% of survey respondents said they would lose everything if a recession hit the United States.
Poll shows Americans have a bleak economic outlook
Following the Fed’s recent rate hike and the subsequent inflation data from the US Department of Labor, investors and analysts are not sure what will happen to the economy in 2023. However, many expect a recession. Recent study real estate data firm Clever surveyed a group of 1,000 Americans and asked 21 questions about the US economy. The Clever report shows that one in five US residents consider the economy the most pressing issue today, and 43% of those surveyed rank it among the top three most pressing issues.
The Clever study shows that two out of three Americans are concerned that the Ukrainian-Russian conflict and the Covid-19 pandemic will continue to affect the economy. The most common market that respondents say is expected to fall is the US stock market, with 38% believing it will. About 33% of the participants surveyed believe that the cryptocurrency market will collapse, 28% suspect that it will be the labor market, and 27% believe that the housing market will fall. The study also shows that 22% of Clever poll participants do not believe that the United States has not had a good economic year in the last ten years.
As for the crypto ecosystem, Clever researchers claim that 31% of participants have a negative attitude towards cryptocurrencies. This data includes 57% of the baby boomer generation who have a negative view of crypto. About 77% of respondents believe that the cost of goods and services will continue to rise, and 70% believe that inflationary prices may force them into debt. The data also shows that 70% of Americans are struggling to pay for essentials, and 82% of liberal participants believe the government should step in. A similar opinion was shared by 78% of conservative respondents to the survey.
Overall, 80% of Americans polled say they expect some kind of market crash this year, and 40% believe it will happen in the US economy as a whole. The Clever study also shows that about 27% of respondents believe that “the global economy will collapse.” Interestingly, almost one in five respondents said they do not believe in an economic recovery, with about 28% of the Baby Boomer generation agreeing with this opinion. In addition, about 82% of respondents said that while they do not expect relief anytime soon, they do expect the US economy to bounce back.
You can read Clever’s report on the US economy and the survey in its entirety. Here.
What do you think of the recent Clever Poll and the perception of the US economy by the majority of Americans surveyed? Let us know what you think about it in the comments section below.
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