Consumers and Homeowners Express Willingness to Embrace Recession for Price Relief

As inflation continues to take a toll on consumers’ wallets, a surprising sentiment is emerging – more than a third of consumers, including new homeowners, are willing to embrace a recession if it brings down soaring prices. This sentiment is revealed in a recent survey conducted by Morning Consult, shedding light on the frustrations of individuals grappling with the impact of prolonged inflation.

With prices on the rise for various goods and services due to inflationary pressures, consumers are becoming increasingly frustrated. The Morning Consult survey indicates that a significant portion, 37%, expressed their willingness to endure a recession if it could lead to lower prices. This sentiment underscores the depth of frustration and the lengths to which individuals are willing to go for financial relief.

Surprisingly, homeowners are among those expressing a desire for a recession. Approximately one-third of the respondents who indicated their willingness to accept a recession are homeowners. Their reasons include the desire for lower property taxes and a perceived need to stabilize the real estate market. This reflects a unique perspective among homeowners who see potential benefits in a downturn, even as it poses risks to the broader economy.

While the desire for lower prices is understandable, the trade-offs associated with a recession are significant. Economic downturns can lead to job losses, financial instability, and challenges for businesses. It’s essential for individuals to consider the broader implications of such a trade-off, even as they express frustration with the current state of inflation.

Sources:

Business Insider: More than a third of consumers are so sick of inflation they’re willing to risk a recession to get lower prices

• Most US consumers are sick and tired of high prices from years of high inflation.
• Many say they want to see prices come down, but across-the-board declines usually mean recession.
• Even when reminded of this fact, a whopping 37% told Morning Consult they’d accept a recession.

Most surprising?

1/3 of the Americans who said they want a crash are HOMEOWNERS

They cited lower property taxes and to stabilize the market as reasons for wanting one pic.twitter.com/1Sahpgpb2x

— Amy Nixon (@texasrunnerDFW) December 9, 2023