Men are more confident about U.S. economy than women
Either many men are wearing rose-colored glasses, or more women need to look on the bright side.
According to a new survey by BankRate.com, 30 percent of women said their financial situation is worse than it was a year ago, compared with 22 percent of men. A third of men also reported feeling more secure about their jobs, compared with 18 percent of women.
"Men routinely have feelings of improved financial security while women's assessment is more tepid," said Greg McBride, Bankrate.com's chief financial analyst. "Even in months when both men and women note improved financial security, men consistently note stronger improvement than women."
This split also appeared when assessing net worth, with 34 percent of men saying it's higher than a year ago, compared to 21 percent of women.
"In September, men noted improved readings compared to last month on all five components of financial security -- job security, savings, debt, net worth and overall financial situation -- while women's readings declined from last month," McBride said. "Studies have shown that men tend to be overconfident investors compared to women. The same may be true for financial security."
Among all respondents to the survey, which was conducted in early September and included roughly 1,000 people in the U.S., 27 percent reported that their net worth is higher now than a year ago, 20 percent said it was lower and half said it was unchanged. When it came to judging their economic condition, 27 percent of those polled said things have improved, 26 percent said they were were and 46 percent described their situation as unchanged. In terms of employment, 59 percent said their job security was the about the same as a year ago while 27 percent said it's better and only 14 percent said it's worse.
Looking forward, more than half of Americans expect home prices to rise over the next 12 months, while just 8 percent expect to see a decline. Unlike the questions about personal finances, this result was consistent across gender, age, income and education levels.
"Housing, like the stock market, is something consumers look to as an indicator for whether things are headed in the right direction," McBride said. "When home prices fall, everyone gets a little queasy -- homeowners and renters alike. The expectation of continued home price increases underscores an expectation for continued improvement in the job market, household finances and the overall economy."
