Americans Express Growing Concern About Job Security Amid Housing Crisis

Americans Express Growing , Concern About Job Security , Amid Housing Crisis.
'Newsweek' reports that elevated
mortgage rates and high inflation have led to more
Americans becoming fearful about job security. .
According to the Fannie Mae Home Purchase
Sentiment Index, people in the U.S. are also growing
more pessimistic about the housing market.
According to the Index, consumers' personal economic situations are , "showing signs of strain, including lower year-over-year household incomes and a reduced sense of job security.".
In our view, all of this points to home
purchase affordability remaining a problem
for the foreseeable future, which we forecast
will keep home sales sluggish into next year, Doug Duncan, Fannie Mae senior vice president
and chief economist, via 'Newsweek'.
The latest report shows the number
of Americans not worried about losing
their job dropped from 78% to 75%. .
Those who expressed concern
that they might lose their job
increased from 22% to 23%.
'Newsweek' reports that the Fannie Mae Index
also showed that household income has
failed to climb in 2023, compared to previous years.
A separate Ipsos survey found
that concerns about job security
started climbing in 2022.
At the time of the survey, over 40% of those polled
expressed worry that they or someone they knew
would lose their job in the next six months.
A more recent study by Morning Consult in
June of 2023, found that 75% of people
were concerned about widespread job losses. .
A more recent study by Morning Consult in
June of 2023, found that 75% of people
were concerned about widespread job losses.