{"id":41848,"date":"2010-06-30T08:15:15","date_gmt":"2010-06-30T13:15:15","guid":{"rendered":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/2010\/06\/30\/viii-the-recession-hits-the-home\/"},"modified":"2024-04-14T03:30:47","modified_gmt":"2024-04-14T08:30:47","slug":"viii-the-recession-hits-the-home","status":"publish","type":"post","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/viii-the-recession-hits-the-home\/","title":{"rendered":"VIII. The Recession Hits the Home"},"content":{"rendered":"<figure><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/3\/legacy\/759-20.png\" alt=\"\" width=\"275\" height=\"333\"><\/figure>\n\n<p class=\"wp-block-paragraph\"><em><strong>The Housing Bubble Bursts:<\/strong><\/em> About half of all homeowners (48%) say the value of their house has declined during the recession (26% say \u201ca lot,\u201d and 22% say \u201ca little\u201d). A third say their homes have held their value during the recession, and one-in-eight say their homes have increased in value. Homeowners most likely to report their home lost value include those who are middle-aged, upper income and live in the West. Also, Republicans (52%) are more likely than Democrats (42%) to say their house has lost value.<\/p>\n\n<p class=\"wp-block-paragraph\">\u201c<em><strong>Underwater\u201d:<\/strong><\/em> More than two-in-ten (21%) of all homeowners say they currently owe more on their mortgage or other home loans than they could sell their house for in today&#8217;s market. In real estate vernacular, they are \u201cunderwater.\u201d Hispanic and black homeowners are more likely than whites to be in this circumstance; lower-income homeowners are more likely than upper-income homeowners to face this problem, and middle-aged homeowners more likely than either younger or older homeowners to be in this situation.<\/p>\n\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/3\/legacy\/759-19.png\" alt=\"\" width=\"280\" height=\"506\"><\/figure>\n\n<p class=\"wp-block-paragraph\"><em><strong>Not Coming Back Anytime Soon:<\/strong><\/em> Among those who say their houses have lost value during this recession, the overwhelming majority believe it will take at least three years for values to return to pre-recession levels. This includes 47% who say they expect it will take three to five years and 39% who say it will take six years or longer. Just 10% say they expect a recovery in two or less years. Despite this, eight-in-ten Americans agree that a house is the best long-term investment the average person can make. (However, the share who \u201cstrongly agree\u201d with this statement is just 39% now, down by 10 percentage points from the share who said the same in a 1991 survey.)<\/p>","protected":false},"excerpt":{"rendered":"<p>The Housing Bubble Bursts: About half of all homeowners (48%) say the value of their house has declined during the recession (26% say \u201ca lot,\u201d and 22% say \u201ca little\u201d). A third say their homes have held their value during the recession, and one-in-eight say their homes have increased in value. Homeowners most likely to [&hellip;]<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sub_headline":"","sub_title":"","_crdt_document":"","_prc_public_revisions":[],"_ppp_expiration_hours":0,"_ppp_enabled":false,"ai_generated_summary":"","relatedPosts":[],"reportMaterials":[],"multiSectionReport":[],"package_parts__enabled":false,"package_parts":[],"_prc_fork_parent":0,"_prc_fork_status":"","_prc_active_fork":0,"datacite_doi":"","datacite_doi_citation":"","_prc_seo_qr_attachment_id":0,"spoken_article_player_enabled":true,"bylines":[],"acknowledgements":[],"displayBylines":true,"footnotes":"","prc_watchers":[]},"categories":[],"tags":[],"bylines":[],"collection":[],"datasets":[],"level_of_effort":[],"primary_audience":[],"information_type":[],"_post_visibility":[],"formats":[458],"_fund_pool":[],"languages":[],"regions-countries":[],"research-teams":[519],"workflow-status":[],"class_list":["post-41848","post","type-post","status-publish","format-standard","hentry","formats-report","research-teams-social-trends"],"label":false,"post_parent":41746,"word_count":275,"canonical_url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/viii-the-recession-hits-the-home\/","art_direction":{"A1":{"id":55613,"rawUrl":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png?w=320&h=250&crop=1","width":320,"height":250,"chartArt":false},"A2":{"id":55613,"rawUrl":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png?w=268&h=151&crop=1","width":268,"height":151,"chartArt":false},"A3":{"id":55613,"rawUrl":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png?w=194&h=110&crop=1","width":194,"height":110,"chartArt":false},"A4":{"id":55613,"rawUrl":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png?w=268&h=151&crop=1","width":268,"height":151,"chartArt":false},"XL":{"id":55613,"rawUrl":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png?w=320&h=250&crop=1","width":320,"height":250,"chartArt":false},"social":{"id":55613,"rawUrl":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/07\/759-11b.png?w=320&h=250&crop=1","width":320,"height":250,"chartArt":false}},"_embeds":[],"watchers":[],"table_of_contents":[{"id":41746,"title":"How the Great Recession Has Changed Life in America","slug":"how-the-great-recession-has-changed-life-in-america","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/how-the-great-recession-has-changed-life-in-america\/","is_active":false},{"id":41770,"title":"II. An Historical Perspective","slug":"ii-an-historical-perspective","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/ii-an-historical-perspective\/","is_active":false},{"id":41785,"title":"III. The Recession: An Overview","slug":"iii-the-recession-an-overview","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/iii-the-recession-an-overview\/","is_active":false},{"id":41798,"title":"IV. The New Frugality","slug":"iv-the-new-frugality","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/iv-the-new-frugality\/","is_active":false},{"id":41809,"title":"V. Retirement Worries","slug":"v-retirement-worries","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/v-retirement-worries\/","is_active":false},{"id":41821,"title":"VI. Short-term Optimism; Long-Term Uncertainty","slug":"vi-short-term-optimism-long-term-uncertainty","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/vi-short-term-optimism-long-term-uncertainty\/","is_active":false},{"id":41835,"title":"VII. The Labor Force","slug":"vii-the-labor-force","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/vii-the-labor-force\/","is_active":false},{"id":41848,"title":"VIII. The Recession Hits the Home","slug":"viii-the-recession-hits-the-home","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/viii-the-recession-hits-the-home\/","is_active":true}],"report_materials":[{"key":"6eccdf65-c6b8-4dfa-a7a1-27d755126b67","type":"report","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-content\/uploads\/sites\/20\/2010\/11\/759-recession.pdf","label":"","icon":"","attachmentId":55620},{"type":"dataset","id":1087,"label":"Economy","url":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/dataset\/economy\/"}],"report_pagination":{"current_post":{"id":41848,"title":"VIII. The Recession Hits the Home","slug":"viii-the-recession-hits-the-home","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/viii-the-recession-hits-the-home\/","is_active":true,"page_num":8},"next_post":null,"previous_post":{"id":41835,"title":"VII. The Labor Force","slug":"vii-the-labor-force","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/vii-the-labor-force\/","is_active":false,"page_num":7},"pagination_items":[{"id":41746,"title":"How the Great Recession Has Changed Life in America","slug":"how-the-great-recession-has-changed-life-in-america","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/how-the-great-recession-has-changed-life-in-america\/","is_active":false,"page_num":1},{"id":41770,"title":"II. An Historical Perspective","slug":"ii-an-historical-perspective","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/ii-an-historical-perspective\/","is_active":false,"page_num":2},{"id":41785,"title":"III. The Recession: An Overview","slug":"iii-the-recession-an-overview","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/iii-the-recession-an-overview\/","is_active":false,"page_num":3},{"id":41798,"title":"IV. The New Frugality","slug":"iv-the-new-frugality","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/iv-the-new-frugality\/","is_active":false,"page_num":4},{"id":41809,"title":"V. Retirement Worries","slug":"v-retirement-worries","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/v-retirement-worries\/","is_active":false,"page_num":5},{"id":41821,"title":"VI. Short-term Optimism; Long-Term Uncertainty","slug":"vi-short-term-optimism-long-term-uncertainty","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/vi-short-term-optimism-long-term-uncertainty\/","is_active":false,"page_num":6},{"id":41835,"title":"VII. The Labor Force","slug":"vii-the-labor-force","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/vii-the-labor-force\/","is_active":false,"page_num":7},{"id":41848,"title":"VIII. The Recession Hits the Home","slug":"viii-the-recession-hits-the-home","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/social-trends\/2010\/06\/30\/viii-the-recession-hits-the-home\/","is_active":true,"page_num":8}]},"parent_info":{"parent_title":"How the Great Recession Has Changed Life in America","parent_id":41746},"materialsOrdered":[],"chaptersOrdered":[],"partsOrdered":[],"partsEnabled":false,"datacite_doi":"","prc_seo_data":{"title":"VIII. The Recession Hits the Home","description":"The Housing Bubble Bursts: About half of all homeowners (48%) say the value of their house has declined during the recession (26% say \u201ca lot,\u201d and 22% say \u201ca little\u201d).&hellip;","og_title":"VIII. The Recession Hits the Home","og_description":"","schema_type":"Article","noindex":false,"canonical_url":"","primary_terms":[],"custom_schema":[],"og_image":55613,"indexnow_submitted_at":null,"gsc_index_status":null},"prepublish_checks":{"prc-image-alt-text":{"status":"incomplete","message":"2 images are missing alt text.","data":{"count":2}},"prc-about-this-research":{"status":"incomplete","message":"Add an \"About this research\" details block.","data":null},"prc-paragraph-count":{"status":"complete","message":"Found 3 paragraphs.","data":{"count":3}},"prc-internal-link":{"status":"incomplete","message":"Add at least one internal link.","data":{"count":0}}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"relatedPostsOrdered":[],"bylinesOrdered":[],"acknowledgementsOrdered":[],"_links":{"self":[{"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/posts\/41848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/comments?post=41848"}],"version-history":[{"count":2,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/posts\/41848\/revisions"}],"predecessor-version":[{"id":104735,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/posts\/41848\/revisions\/104735"}],"wp:attachment":[{"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/media?parent=41848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/categories?post=41848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/tags?post=41848"},{"taxonomy":"bylines","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/bylines?post=41848"},{"taxonomy":"collection","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/collection?post=41848"},{"taxonomy":"datasets","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/datasets?post=41848"},{"taxonomy":"level_of_effort","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/level_of_effort?post=41848"},{"taxonomy":"primary_audience","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/primary_audience?post=41848"},{"taxonomy":"information_type","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/information_type?post=41848"},{"taxonomy":"_post_visibility","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/_post_visibility?post=41848"},{"taxonomy":"formats","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/formats?post=41848"},{"taxonomy":"_fund_pool","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/_fund_pool?post=41848"},{"taxonomy":"languages","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/languages?post=41848"},{"taxonomy":"regions-countries","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/regions-countries?post=41848"},{"taxonomy":"research-teams","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/research-teams?post=41848"},{"taxonomy":"workflow-status","embeddable":true,"href":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/wp-json\/wp\/v2\/workflow-status?post=41848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}