According to a recent survey by real estate data firm Clever, nearly three out of four Americans are worried about a recession this year, with 69% of survey participants saying the United States is already in a recession. Worse yet, the survey’s respondents said that the U.S. is already in a recession. To make matters worse, 55% of the survey’s respondents said they would lose everything if a recession materialized in the U.S.
According to the survey, Americans’ economic outlook is bleak
After the Federal Reserve’s recent interest rate hikes and subsequent inflation data from the U.S. Department of Labor, investors and analysts are uncertain about what will happen to the economy in 2023. However, many are predicting a recession. A recent surveyby real estate data firm Clever
asked a group of 1,000 Americans 21 questions about the U.S. economy. According to the Clever report, one in five U.S. residents considers the economy the most pressing issue of the day, with 43% of those surveyed ranking it in the top three most pressing issues.
Clever’s survey found that two out of three Americans are concerned that the Ukraine-Russia conflict and the Covid 19 pandemic will continue to affect the economy. The most common market that respondents said would “fall” was the U.S. stock market, with 38% believing it would. About 33% of those surveyed believe the crypto market will crash, 28% believe the job market and 27% believe the housing market will fall. It also shows that 22% of Clever survey participants do not believe the U.S. has had a single good economic year in the past decade.
As far as the crypto ecosystem is concerned, Clever researchers claim that 31% of participants have a negative view of cryptocurrencies. That data includes 57% of the “baby boomer” generation who view crypto negatively. About 77% of respondents believe that the cost of goods and services will continue to rise, and 70% believe that inflationary prices could push them into debt. The data also showed that 70% of Americans are struggling to pay for basic living expenses, and 82% of liberal participants believe the government should intervene. Seventy-eight percent of conservative poll respondents expressed a similar view.
Overall, 80% of Americans polled said they expect some kind of market crash this year, and 40% believe it will happen in the U.S. economy in general. Clever’s survey also found that about 27% said they believe “the global economy will collapse.” Interestingly, one in five respondents said they do not think the economy will recover, with about 28% of Baby Boomers agreeing with this statement. Additionally, about 82% of those polled said they expect the U.S. economy to bounce back, although they do not expect immediate relief.
The full Clever U.S. Economic Report and poll can be found here.