The Blubber

64% of Americans would welcome a recession if it meant lower mortgage rates, per USA today.

A study conducted by Harris Poll on behalf of Credit Karma, designed exclusively for USA TODAY, revealed that 64% of Americans feel "ready for a recession" if it means they can afford to buy a home. As prospective homebuyers grapple with nearly 7% mortgage rates and persistent high home prices due to limited inventory, the outlook appears challenging for those aspiring to purchase a home.

Unsurprisingly, 82% of survey participants believe that the country is currently facing an unprecedented housing affordability crisis. Consequently, more than 3 in 5 Americans who have never owned a home (61%) express doubt about their ability to ever afford one.

The poll, conducted between May 24-26, involved 2,053 adults aged 18 and older. This sample included 264 recent homebuyers and 579 individuals planning to purchase a home within the next three years.

Of the homeowners who bought a property in the past year, 46% indicate that they are struggling to manage their monthly mortgage payments due to high interest rates. For those who recently purchased a home, 36% used savings, 37% used funds from a previous home sale, 16% paid in cash, 19% relied on financial assistance from family, 7% opted for an adjustable-rate mortgage, and 9% utilized a mortgage rate buy-down, as per the study's findings.