American consumers aren’t feeling great about the economy or their own financial situation, with the phrase “affordability crisis” dominating headlines and political campaigns over the last few months.
The majority — 70% — of Americans surveyed in a Marist poll of over 1,400 adults taken in December, say that the cost of living in their area is not very affordable, or not affordable at all, for the average family.
While President Donald Trump called the word “affordability” a “con job by the Democrats,” in a speech in early December, other politicians have insisted it’s an issue for their constituents.
“The affordability crisis is not a hoax, it is a reality felt by Americans everywhere.” Rep. Sarah McBride, D-Del. said in a newsletter.
Nearly half of Americans say their financial situation is worse than a year ago, a recent Credit Karma survey found. And consumer sentiment in December sank 29% from 2024 according to the University of Michigan’s monthly survey.
