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In a July 2011 survey by the Rasmussen Reports, more than one third of homeowners stated that they owe more on their home than the home is currently worth. Another 18 percent weren’t sure, but thought there might be a possibility that they are under water. Fewer than half – 49 percent – were confident that they still had equity in their homes.

Upper-income home owners tended to be the most confident in their home’s value. Investors were also found to be more upbeat and positve about the value of their properties, when compared to those who earn less. When Rasmussen conducted the same survey in December of 2008, 61 percent of homeowners surveyed said they believed their home was worth more than the amount of their mortgage.

In spite of the fact that so many people have lost value in their homes, the survey found that homeowners still rank home ownership among their top priorities, even for those whose homes are now under water.