An Overlooked Fault Line in American Animal Spirits: Homeowners vs. Renters

In recent years, much of the media narrative about consumer confidence has focused on the partisan sentiment gap, where Republicans and Democrats flip-flop on optimism based on which party holds the levers of power in Washington D.C. In our “K-shaped” economy, surveys also reveal a confidence chasm between upper- and lower-income population cohorts. But there’s another growing fault line that divides the moods, perspectives, and economic outlook of Americans—a gap that’s not driven by politics or household income, but housing tenure—whether a person owns or rents their home.

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