Americans are expressing their highest levels of pessimism regarding the housing market and the economy in general, according to Fannie Mae's August National Housing Survey.

More than three quarters of those surveyed (78%) said they believe the economy is on the wrong track, up from 70% in July, while 27% said they expect housing prices to decline and 22% think their financial situation will worsen over the next 12 months; for those last two points, Fannie Mae said that is the highest level of pessimism seen since August 2010.

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