More than half of Americans are worried about not having enough money to pay their mortgage or rent, according to a survey recently released by the Washington Post. A third of respondents were “very concerned” about their ability to make housing payments, while a fifth were “somewhat concerned,” adding up to 53 percent of respondents.
This contrasts with the results of similar surveys the newspaper conducted in February 2009 and December 2008. In the 2008 survey, 37 percent of respondents said they were at least “somewhat concerned” about making their housing payments — by February 2009, that figure had risen to 46 percent.
Those with household incomes lower than $30,000 were twice as likely to be worried as those with incomes of $75,000 or more, according to the survey.
Despite concerns about the economy, the majority of respondents, 61 percent, said that now is a good time to buy a home. Nearly 30 percent said it is a bad time to buy, and 10 percent had no opinion.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors (949) 753-7900