{"id":1424765,"date":"2022-04-07T22:59:44","date_gmt":"2022-04-08T02:59:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1424765"},"modified":"2022-04-07T22:59:46","modified_gmt":"2022-04-08T02:59:46","slug":"nearly-three-out-of-four-americans-say-the-economy-is-on-the-wrong-track","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nearly-three-out-of-four-americans-say-the-economy-is-on-the-wrong-track\/","title":{"rendered":"Nearly Three Out of Four Americans Say the Economy Is On The &#039;Wrong Track&#039;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnearly-three-out-of-four-americans-say-the-economy-is-on-the-wrong-track%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1424765&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Nearly three-quarters of U.S. consumers say the economy is on the \u2018wrong track,\u2019 a survey released by Fannie Mae Thursday showed.<\/p>\n<p>Fannie Mae\u2019s Home Purchase Sentiment\u00a0<a title=\"Link\" href=\"https:\/\/www.fanniemae.com\/research-and-insights\/surveys\/national-housing-survey\" target=\"_blank\" rel=\"noopener\">survey<\/a>\u00a0showed that the share of Americans saying the economy is on the wrong track rose to 73 percent in March, the highest level in 11 years. In February, 68 percent responded that the U.S. economy is on the wrong track.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The share of Americans who expect their personal financial situation to worsen over the next year jumped to 25 percent, the highest ever recorded.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Sixty-nine percent of respondents\u2014also a record high\u2014indicated that they expect mortgage rates to continue their upward ascent. On net, the \u201cGood Time to Buy\u201d component set a new survey low, with 73 percent of respondents reporting that it\u2019s a bad time to buy a home. Year over year, the full index is\u00a0<a href=\"https:\/\/www.fanniemae.com\/media\/document\/pdf\/nhs-monthly-data-040722\" target=\"_blank\" rel=\"noopener\">down 8.5 points<\/a>.<\/p>\n<p>\u201cThe \u2018Good Time to Buy\u2019 component of the index reached yet another record low, with high home prices, rising mortgage rates, and macroeconomic uncertainty serving as consumers\u2019 chief concerns,\u201d said Mark Palim, Fannie Mae Vice President and Deputy Chief Economist. \u201cOnly 24 percent of consumers believe it\u2019s a good time to buy a home, with similar levels of pessimism expressed by nearly all of the demographic groups surveyed.\u201d<\/p>\n<p>Concerns over worsening financial situation, together with the run-up in mortgage rates since the end of 2021, will likely diminish mortgage demand from move-up buyers,\u00a0 Palim said. Fewer move-up buyers will mean fewer available entry-level homes, adding to the rising-rate challenges for potential first-time homebuyers.<\/p>\n<p>\u201cIf consumer pessimism toward homebuying conditions continues and the recent mortgage rate increases are sustained, then we expect to see an even greater cooling of the housing market than previously\u00a0<a href=\"https:\/\/www.fanniemae.com\/newsroom\/fannie-mae-news\/inflation-and-russias-invasion-ukraine-expected-take-toll-us-economy-and-housing-sector\">forecast<\/a>,\u201d Palim said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly three-quarters of U.S. consumers say the economy is on the \u2018wrong track,\u2019 a survey released by Fannie Mae Thursday showed. Fannie Mae\u2019s Home Purchase Sentiment\u00a0survey\u00a0showed that the share of<\/p>\n","protected":false},"author":11,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1424765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1424765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1424765"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1424765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1424765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1424765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1424765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}