37% Say Their Home Is Worth Less Than What They Owe On It
Tuesday, November 22, 2011
The number of American homeowners who say they owe more on their mortgage than their home is worth is again at an all-time high.
The latest Rasmussen Reports national telephone survey of U.S. homeowners shows that 51% believe their home is worth more than the amount they still owe on their mortgage, down three points from last month.
But 37% say their home is not worth more than the amount left on their mortgage, tying the highest level ever first reached in September. Thirteen percent (13%) are not sure. (To see survey question wording, click here.)
Prior to September, the number of homeowners saying their home is worth less that what they still owe on their mortgage ranged from 28% to 36% in surveys since December 2008. In the same period, 45% to 61% have reported their home is worth more than what they still owe, although the finding has been in the low to mid-50s for much of that time.
Despite this pessimistic assessment, only four percent (4%) of homeowners say they’ve missed or been late on a mortgage payment in the past six months. Ninety-two percent (92%) have not. These findings have remained steady over the past year.
(Want a free daily e-mail update? If it's in the news, it's in our polls). Rasmussen Reports updates are also available on Twitter or Facebook.
The survey of 677 U.S. Homeowners was conducted on November 18-19, 2011 by Rasmussen Reports. The margin of sampling error is +/- 3 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.
Become a member and get full access to all articles and polls starting at $4.95/month.
Rasmussen Reports is a media company specializing in the collection,
publication and distribution of public opinion information.
We conduct public opinion polls on a variety of topics to inform our audience on events
in the news and other topics of interest. To ensure editorial control and independence,
we pay for the polls ourselves and generate revenue through the sale of subscriptions,
sponsorships, and advertising. Nightly polling on politics, business and lifestyle topics
provides the content to update the Rasmussen Reports web site many times each day.
If it's in the news, it's in our polls. Additionally, the data drives a
daily update newsletter and various media outlets
across the country.
Some information, including the Rasmussen Reports daily Presidential Tracking Poll
and commentaries are available for free to the general public.
Subscriptions are available for $4.95 a month or 34.95 a year
that provide subscribers with exclusive access to more than 20 stories per week on upcoming elections,
consumer confidence, and issues that affect us all. For those who are really into the numbers,
Platinum Members can review demographic crosstabs
and a full history of our data.
To learn more about our methodology, click here.