Weekly Data

WHAT THE DATA SAY: Third of Americans worried it’s a bad time to buy a home, despite high desire

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

IS HOME OWNERSHIP JUST A DREAM?

Financial anxieties and misconceptions make home ownership feel unattainable to Americans, according to our Harris Poll survey with KB Home.

  • 83% of Americans believe owning a home is a significant milestone.
  • Excitement (47%), pride (43%) and motivation (28%) are the top emotions associated with homebuying.
  • However, 89% feel anxious about affordability and the homebuying process (93% for current renters).
  • 74% are willing to make lifestyle sacrifices to afford the home they want.
  • 54% believe they are in a worse position to buy a home than previous generations.
  • 28% are anxious about whether now is a good time to buy.
  • Americans’ top financial anxieties are affording a down payment (45%), knowing how much they can afford (43%), making monthly payments (42%) and finding the best mortgage rate (42%).
  • 69% falsely believe mortgage rates are at an all-time high.
  • Nearly half don’t know key homebuying terms such as APR (44%) and PMI (49%).
  • Gen Z (25%) and Millennials (23%) feel anxious about not knowing where to start in the homebuying process.

    FREE WIFI, PLEASE

    New York City residents rely on tech companies for accessible Wi-Fi according to our HarrisX research with LinkNYC.

    • 55% of New York City residents use free public Wi-Fi monthly.
    • 30% rely on it weekly.
    • 35% don’t have unlimited cellular data plans.
    • 51% run out of data at least one month per year.
    • 76% approve of New York City’s use of technology to deliver public services.
    • 78% say tech companies have positively impacted the city.
    • 71% express interest in expanded, city-wide technology and AI programs.

    WOMEN WANT DOULAS

    Lack of access to doulas is a critical issue in the maternal health care crisis, according to our Harris Poll research.

    • 73% of women believe that insurance companies should provide coverage to employ a doula (81% for women aged 18-34).
    • 21% of women who have given birth have used a doula, and 90% found it helpful.
    • 19% of women who have given birth wanted to employ a doula but couldn’t.
    • 23% say a doula would have improved their pregnancy and birth experience.
    • 30% felt they did not have control over their labor and delivery.
    • Women ages 18-34 are more likely (51%) to engage a doula than older women ages 35+ (15%).
    • Reasons for not employing a doula include lack of education and resources (65%) and financial constraints/lack of insurance coverage (35%).

    ICYMI: In case you missed it, check out the thought-leadership and happenings around Stagwell making news:

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