Tuesday, May 17, 2011
Only half of Adult Homeowners say their house is worth more than what they still owe on their mortgage, but most have not missed or been late on a mortgage payment in the past six months.
A new Rasmussen Reports national telephone survey finds that just 51% of Adults who own a home say the value of that home is worth more than their mortgage. That finding shows virtually no change from last month and has ranged from a low of 49% to a high of 61%, reached in October 2009 and in December 2008. (To see survey question wording, click here.)
Homeowners earning $60,000 or more annually, by a two-to-one margin, are more inclined to say their home is worth more than their mortgage compared to those making under $20,000.
Fifty-eight percent (58%) of investors say their home is worth more than their mortgage, while just 39% of non-investors say the same.
Among all homeowners, 35% say their home is worth less than their mortgage. Since the financial meltdown began in the fall of 2008, the number of homeowners who say their house is worth less than what they still owe has ranged from 28% to 36%.
The survey of 680 Homeowners was conducted on May 14-15, 2011 by Rasmussen Reports. The margin of sampling error is +/- 4 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.Rasmussen subscribers can log in to read the rest of this article.
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