11/3: Loss of Optimism about Family Finances among New York State Voters
Fewer registered voters in New York State believe their personal family financial picture will improve in the coming year. Less than one in four — 23% — think their money matters will get better while 22% say they will get worse, and a majority — 55% — reports it will stay about the same.
There has been an eight percentage point drop in the proportion of voters who say their personal finances will improve. When NY1/YNN-Marist last reported this question in May, 31% believed there were better financial days ahead while 22% thought their family finances would decline. At that time, 47% said their family’s financial picture would remain the same.
- While there has been little change among Democratic voters statewide, fewer Republicans — 17% — and non-enrolled voters — 18% — think their family’s finances will get better. In May, 28% of Republicans and 30% of non-enrolled voters held this view.
- There has been an increase in the proportions of Republicans and non-enrolled voters who believe their family’s financial picture will stay about the same. 58% of Republicans and six in ten non-enrolled voters — 60% — currently share this view while 47% and 45%, respectively, thought this way in May.
- Regionally, fewer in New York City — 28% — and upstate — 20% — think their family finances will take a turn for the better. In May, those proportions stood at 38% and 28%, respectively. There has been little change in the suburbs of New York City. 23% expect their family finances to get better while 26% thought that way in May.
One in Four New Yorkers Could Soon Move Out…Younger Residents Still Flight Risk
25% of adults statewide believe they will re-locate in the next five years while nearly seven in ten — 69% — plan to stay put. Six percent are unsure.
There has been little change on this question since May. At that time, 26% thought they would leave while 67% reported they would remain in the Empire State. Six percent, at that time, were unsure.
- New Yorkers under 30 years old are still the age group most likely to leave town. 38% believe they will put down roots out of state while 36% said the same in May.
Among adults statewide who plan to move out of New York, the economy is most to blame. More than six in ten of these residents — 62% — cite economic reasons such as the cost of living, taxes, and jobs. However, 38% say non-economic reasons have influenced their decision. These include the climate, quality of life, retirement, overcrowding, housing costs, schools, and family. In NY1/YNN-Marist’s May poll, the same proportions — 62% and 38%, respectively — held these views.
What about the overall cost of living in New York State? More than seven in ten adults — 73% — think New York is unaffordable. This includes a majority — 54% — who believe it is not very affordable and 19% who say it is not affordable at all. One percent, though, says it’s very affordable, and one in four — 25% — believes living in New York is affordable.
There has been little change on this question since May. At that time, 77% reported that New York is an expensive place to live. One percent said it was very affordable, and 22% believed it was affordable.
Nearly Eight in Ten Think NYS is in a Recession
78% of registered voters think New York State is currently in a recession while one in five — 20% — does not. Two percent are unsure.
- Regardless of political party or region, more than three in four voters think the state is experiencing an economic recession.
The state of New York’s economy is tenuous in the eyes of registered voters. 51% report the economy is about the same. 36% believe it is getting worse. Only 13% think it is getting better.
In May, 47% thought the economy was status quo while 37% reported it was getting worse. 16% said it was improving.
And, a majority of registered voters in New York believe there is more bad economic news ahead for the state. In fact, 54% say the worst is yet to come while 42% think the worst is behind us. Four percent are unsure.
In NY1/YNN-Marist’s previous survey, similar proportions shared these views. At that time, 53% believed the worst was ahead while 44% thought the worst of the economic times were behind them. Four percent, then, were unsure.