Americans believe country still in grips of housing crisis

by Adam Smith05 Jun 2014
A new survey has claimed most Americans remain dour on the housing market in spite of falling foreclosures and improving home values.

The survey, conducted by the MacArthur Foundation, found 70% of respondents still believe the U.S. is in the middle of a housing crisis or that the worst of the housing crisis is yet to come. The result shows a slight improvement over last year, however, when 77% of respondents believed that either the country was still in the midst of a crisis or that the worst was yet to come.

The majority of respondents (52%) also said they have had to make at least one sacrifice in order to cover their rent or mortgage during the past three years.

Concerns about affordable housing also plagued respondents. Fifty-eight percent of respondents said it was either very or somewhat challenging to find affordable housing for rent, while 59% said it was very or somewhat challenging to purchase affordable housing.

“Housing affordability has driven a large share of the American people to make significant financial adjustments. Concern and insecurity about the ability of middle class Americans to maintain their footing and for people to rise up into the middle class is a central theme in America today and this research shows that housing is front and center in these concerns," said Hart Research Associates president Geoffrey Garin.



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