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34% Say Their Home Is Worth Less Than What They Still Owe

Wednesday, October 19, 2011

One-out-of three U.S. homeowners continue to say their home is worth less than what they owe on it.

The latest Rasmussen Reports national telephone survey of U.S. homeowners shows that 34% say their home is not worth more than the amount left on their mortgage, just three points below the all-time high of 37% reached last month

Fifty-four percent (54%) believe their home is worth more than the amount they still owe. That's up from 47% in September. This finding has ranged from 45% to 61% since December 2008. Thirteen percent (13%) aren’t sure. (To see survey question wording, click here.)

Sixty-two percent (62%) of homeowners say their home is worth more now than when they bought it. Nineteen percent (19%) say their home's worth less and 17% about the same. The same survey finds that homeowners continue to worry about the short- and long-term value of their homes, with findings still below what they were two years ago. 

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The survey of 701 Homeowners was conducted on October 13-14, 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.


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