A new survey shows the majority of New Jersey residents are becoming more anxious about their financial situation.
Fifty-one percent of New Jersey residents surveyed by Fairleigh Dickinson University say they’re worse off financially now than they were a year ago.
Nineteen percent of homeowners say their mortgage is now worth more than their house, said poll director Peter Woolley. They’re worried home prices will continue to fall.
“There’s a lot of people out there who have taken all of the equity out of their house through the ATM of refinancing already, and now it’s impossible for them to go back to the well even though mortgage rates have fallen further,” Woolley said.
Most of those surveyed say they’re concerned about the rising prices of food and other essentials. About a third of New Jerseyans who now are employed say they’re worried about losing their job in the next 12 months.