Housing Market Woes Spread, Dampening Florida's Consumer Confidence
Newswise — The latest round of bad news in the housing market dealt a blow to consumer confidence in August, causing a three-point drop to 78, its lowest level in a year, a new University of Florida study finds.
“A lot happened in August to shake consumer confidence,” said Chris McCarty, director of the Survey Research Center at UF‘s Bureau of Economic and Business Research. “Everybody knows by now that the problems in the housing market have spread well beyond that sector alone. What we are seeing now is a pullback in lending, which is making problems worse for both buyers and sellers. This caused a very large drop in the stock market in the second half of the month.”
Housing Market Woes Spread, Dampening Florida's Consumer Confidence - Newswise
- Consumer confidence
- Economy
- Florida Consumer Confidence Index
- Housing
- Real estate
- Survey research
- UF Survey Research Center