Increasingly, Americans express the view that the nation’s economy will improve in the next year, and a growing number also expect their personal finances to get better. But this has not caused people to open their wallets.
While the economic downturn is falling quite heavily on younger Americans, their overall outlook remains optimistic. A new survey also finds Generation Next expressing more liberal views when compared with older age cohorts as well as evidence of increased political engagement.
Those who say their homes are worth less than what they owe on their mortgages are generally younger, less affluent and more likely to be Hispanic or African American than are those who feel they would at least break even if they had to sell today.
For the public, the continuing financial crisis has been overtaken by a jobs crisis; the proportion citing jobs or unemployment as the nation’s most important economic problem has more than quadrupled to 42% since early October and concern about job loss has climbed steeply among affluent Americans.