According to a new poll, Americans’ views on the economy have deteriorated significantly in the last month, with over half expecting the economy to worsen in the coming year. According to a poll conducted by The Associated Press-NORC Center for Public Affairs Research, only 35 percent of Americans consider the national economy to be good, while 65 percent consider it to be terrible. This indicates a drop from September, when 45 percent of Americans said the economy was doing well.
The decline in Americans’ economic sentiment is associated with the rising cost of products across the country making purchasing more difficult. Consumer prices jumped 5.4 percent from a year ago in September, as per the Labor Department. Roughly, 47 percent of Americans believe the economy will worsen in the coming year, compared to only 30 percent who expect it to get better. Joseph Binkley, a resident of Indiana, said that there might be inflation but this is just a temporary economic problem.“ I think it’s mostly a supply-demand issue, as the economy is improving,” he added. Despite the decline in Americans’ economic outlooks, the AP-NORC poll revealed that people were generally optimistic about their financial conditions. 65 percent of Americans feel their financial status is favorable while, 24 percent believe their finances will deteriorate in the coming year. Additionally, the study reveals that the pandemic has aided employees’ negotiating power in that, 36% of Americans are very or extremely sure that if they wanted to, they could find a good job, while another 35% say they are “somewhat confident.”
It however is sad but true that, there are still economic disparities between Black and Hispanic Americans and white Americans. White people are far more confident in their capacity to pay an unexpected bill or medical expense than Black or Hispanic people are.
State economic status keeps on shifting and is sometimes unpredictable. Supply-demand chain difficulties, unemployment, and inflation mostly affect economies. However, there is always a solution to control and stabilize the economy only if the government applies the right strategies. The world’s economy was drastically affected by the pandemic, and this is no different for America’s economy. Any economic change affects all other sectors including real estate. You can still invest in homeownership even with an unfavorable economic status. Make the Power Is Now Media Inc. your real estate partner and live with no worries of economic uncertainties.
About The Powe Is Now
The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today.
Eric Lawrence Frazier MBA,
Vice President and Mortgage Advisor of First Bank,
NMLS 461807.
President and CEO of The Power Is Now Media Inc.
www.thepowerisnow.com
References:
https://www.cnbc.com/2021/11/01/americans-sour-on-economy-amid-inflation-woes-ap-norc-poll-finds.html
