Nearly 70% of Americans believe the economy is headed in the wrong direction and 73% believe it's a bad time to buy a house, according to Fannie Mae's Home Purchase Sentiment Index. File Photo by Kevin Dietsch | License Photo
Oct. 8 (UPI) -- Nearly 70% of Americans believe the economy is headed in the wrong direction and 73% think it's a bad time to buy a house, according to Fannie Mae's Home Purchase Sentiment Index.
In the September survey, just 32% believe the economy is going in the right direction and 27% see now is a good time to purchase a home.
The Fannie May numbers are a mixed bag compared to one year ago, when 64% thought the economy is on the wrong track but 81% thought it was a bad time to buy a home.
The Home Purchase Sentiment Index is designed to track consumers' housing-related attitudes, using six questions from the National Housing Survey. Fannie Mae, officially known as the Federal National Mortgage Association, buys mortgages from banks and other lenders.
