About 64% of homeowners and renters in the U.S. are concerned that the economy is not on the right path, according to Fannie Mae's quarterly housing survey. "Consumers are more cautious due to concerns over employment and household finances," said Doug Duncan of Fannie Mae. "As a result, consumer spending, which accounts for about 70% of the economy, ground to a halt in the second quarter. Consumers are more hesitant to take on additional financial commitments, and a setback to confidence means a setback to the recovery of the housing market."
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