Americans Down About Slowing Economy, Have Low Housing Expectations

Englewood Cliffs, N.J.–In the past three months, U.S. consumers have developed an extremely low perception of the economy and the stock and housing markets, according to a new CNBC Wealth in America study.Homeowners are expecting a small home value drop for the first time since Englewood Cliffs, N.J.-based CNBC began conducting the survey a year ago. In addition, 83 percent of Americans ranked the economy as fair or poor–an 11 percent rise since December’s poll.Only 20 percent of Americans feel their home price will go up in 2008, a reduction from 40 percent in 2007. Home prices are expected to decline 0.3 percent, according to the survey.Nearly two-thirds of the respondents were negative about the current and future economic state.