#USA #St. Louis #Housing Market #Tariffs #Economic Worries

Americans Express Growing Economic Concerns

In a recent report conducted by Clever Real Estate, a significant portion of the American population expressed increasing anxiety regarding key economic issues. A staggering 81% of respondents indicated that they are worried about tariffs and the potential onset of trade wars. Additionally, 70% of those surveyed fear a crash in the housing market, reflective of broader concerns regarding the stability of the economy as we approach 2025.

The survey, which included 1,000 Americans, highlighted an overwhelming sense of unease, with 95% of participants expressing worries about rising prices in the coming year. Only 26% of Americans claim to feel better off economically compared to six months prior, and a mere 34% believe their financial situation will improve over the next half-year.

This mounting pressure is evidenced further by a widespread belief that inflation will escalate—74% expect it will worsen, a stark contrast to the 70% who have heightened concerns about inflation since September 2024. The approval rating for President Trump’s economic handling is notably low, with only 39% of respondents in favor of his approach.

The implications of tariffs on the American economy are particularly troubling for 72% of the populace, who feel these measures will have a detrimental effect. In anticipation of unfavorable economic conditions in 2025, 58% of Americans report scaling back on non-essential spending, while approximately 32% have taken to stockpiling essential resources, such as canned food and first aid supplies.

Interestingly, more than half of respondents (54%) express a desire to make purchases now to avoid future price increases. However, 32% of individuals who had planned significant purchases have decided to delay these decisions; this includes 22% of those who intended to buy a home and 13% who were looking to sell a home.

The fears surrounding the housing market are tangible—70% of survey participants anticipate a crash while 32% worry they won’t be able to meet housing payment obligations due to economic conditions predicted for 2025.

Amidst these concerns, 78% of Americans support cuts to government spending; however, only 46% are aligned with the current administration's strategies. Furthermore, fewer than half of those surveyed (44%) endorse Elon Musk’s Department of Government Efficiency (DOGE). Alarmingly, more than three-quarters of individuals (75%) assert that cuts to government assistance programs would adversely affect themselves or family members, with 11% fearing homelessness as a result.

The looming changes in Social Security benefits are another major concern, with 85% expressing worry—the highest of any government program impacted by potential reforms. Additionally, 68% express fears over the loss of rights or equality in society, while a notable 57% support efforts geared towards diversity, equity, and inclusion (DEI). The ongoing financial strain has prompted 39% of consumers to cut back spending at businesses whose values do not align with their own.

Overall, the survey suggests a prevailing sentiment that society is not sufficiently reacting to the potential implications of the Trump administration on finances, with 46% believing the public is underreacting compared to the 30% who feel the opposite.

These growing economic concerns sketch a disconcerting picture of American financial sentiment, and they raise crucial questions about the efficacy of current policies in addressing citizens' worries. As we move forward, how these concerns evolve will undoubtedly shape the American economic landscape—one that many hope will stabilize in the near future.

For those interested in a deeper dive, the complete findings can be accessed through Clever Real Estate's detailed report, available at Clever's Research.