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According to a recent study by Clever, a real estate data company, nearly three out of four Americans worry there will be a recession this year, and 69% of the research participants say the U.S. is already in a recession. What’s worse, 55% of the study’s respondents said they would lose everything if a recession in the United States came to fruition.
Survey Shows Americans Have a Gloomy Economic Outlook
After the Federal Reserve’s recent rate hike and the inflation data from the U.S. Department of Labor that followed, investors and analysts are uncertain about what will happen to the economy in 2023. However, many expect a recession. A recent study by the real estate data firm Clever polled a group of 1,000 Americans and asked 21 questions about the U.S. economy. Clever’s report shows that one in five U.S. residents considers the economy the most pressing issue today, while 43% of those surveyed rank it within the top three most pressing issues.
Clever’s study shows that two out of three Americans are worried that the Ukraine-Russia conflict and the Covid-19 pandemic will continue to impact the economy. The most common market that respondents said they expect to fall is the U.S. stock market, with 38% believing this will be the case. Around 33% of the surveyed participants believe crypto markets will crash, 28% suspect it will be job markets, and 27% think the housing market will fall. The research also shows that 22% of Clever’s survey participants did not think the United States had a single good economic year in the last ten years.
As far as the crypto ecosystem is concerned, Clever’s researchers claim that 31% of the participants view cryptocurrency negatively. That data includes 57% of the ‘baby boomer’ generation, which views crypto in a negative manner. Around 77% of the respondents believe that the cost of goods and services will continue to rise, and 70% think that inflationary prices could force them into debt. The data also shows that 70% of Americans are struggling to pay for basics, and 82% of liberal participants think the government should step in. A similar sentiment was shared by 78% of conservative poll respondents.
Overall, 80% of Americans polled say they expect some market crashes this year, and 40% believe it will be in the general U.S. economy. Clever’s study also shows that around 27% said they believe “the global economy will collapse.” Interestingly, nearly one in five polled said they don’t believe the economy will ever recover, with about 28% of the baby boomer generation agreeing with this sentiment. Furthermore, around 82% of the polled respondents said that while they don’t expect any relief soon, they do expect the U.S. economy to bounce back.
You can check out Clever’s U.S. economy report and poll in its entirety here.
What do you think about Clever’s recent survey and the perception most of the polled Americans have regarding the U.S. economy? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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