56% Say Housing Market Will Take More Than Three Years to Fully Recover

Pessimism about the recovery of housing prices and the stock market remains at or near record highs.  A new Rasmussen Reports national telephone survey finds that 43% of American Adults believe it will take more than three years for the stock market to recover from the downturn in 2008. That’s up from 40% in June.  This is now the highest level of pessimism in over three years, although it should be noted that this is only the second time the question was posed specifically referencing the 2008 downturn as opposed to referring to "the recent downturn."  (To see survey question wording, click here.) 

Similarly, 56% believe it will take more than three years for housing prices to recover from the 2008 downturn. This is virtually unchanged from 57% last month which marked the gloomiest assessment of the housing market since regular tracking began in early 2009.  Again, however, it should be noted that this is just the second time the question referred specifically to the downturn in 2008.

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The national survey of 1,000 Adults nationwide was conducted on July 22-23, 2012 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Fieldwork for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.