55% of Americans think they will lose everything in a U.S. recession

According to a recent study by Clever, a real estate data company, nearly three out of four Americans fear there will be a recession this year, and 69 percent of study participants say the U.S. is already in a recession. Even worse, 55 percent of those surveyed in the study said they would lose everything if a recession hit the U.S.

Survey shows Americans have bleak economic outlook

After the Federal Reserve’s recent rate hike and subsequent U.S. Department of Labor inflation data, investors and analysts are uncertain about how the economy will fare in 2023. However, many expect a recession. A recent study by real estate data company Clever surveyed a group of 1,000 Americans and asked them 21 questions about the U.S. economy. Clever’s report shows that one in five U.S. residents consider the economy to be the most pressing issue today, while 43 percent of those surveyed ranked it among the top three most pressing issues.

Clever’s study shows that two out of three Americans are worried about the impact of the Ukraine-Russia conflict and the Covid-19 pandemic on the economy. The most common market that respondents said they expect to fall is the U.S. stock market, with 38 percent believing this will be the case. About 33% of surveyed participants think crypto-currency markets will crash, 28% suspect it will be the job markets, and 27% think the housing market will fall. The study also shows that 22% of Clever’s survey participants don’t think the U.S. has had a single good economic year in the past 10 years.

When it comes to the crypto-currency ecosystem, Clever researchers say that 31% of participants view crypto-currencies negatively. This data includes 57% of the “baby boomer” generation, who view crypto-currencies negatively. About 77% of those surveyed think the cost of goods and services will continue to rise, and 70% think inflationary prices could force them into debt. The data also show that 70 percent of Americans are having trouble paying for basic necessities, and 82 percent of liberal participants think the government should step in. A similar sentiment is shared by 78% of conservative respondents.

Overall, 80 percent of Americans surveyed say they expect stock market crashes this year, and 40 percent think it will be the U.S. economy in general. Clever’s study also shows that about 27% said they believe “the global economy will crash.” Interestingly, nearly one in five respondents said they do not believe the economy will ever recover, with 28% of the baby boomer generation sharing this sentiment. In addition, about 82% of those surveyed said that while they don’t expect relief soon, they do expect the U.S. economy to rebound.