Housing, credit blamed for sinking investor optimism

Investor optimism has tanked to Hurricane Katrina levels, according to a new Gallup/UBS poll, and respondents blamed the housing market for much of the troubles.

Some snippets from the poll: 56 percent of people think housing is hurting the business climate a lot. Another two-thirds of respondents said credit is harder to get than it was three months ago.

One part of the survey was annoyingly misleading. Gallup said 68 percent viewed the economy as either in a "recession" or "slowdown." They are different things - one means the economy is contracting, the other means it could be growing but at a slower rate.

They shouldn't be grouped together as a survey answer - unless your aim is to emphasize gloom.

More detailed look here.