HDC Consumer Survey Results
Conducted 11/7/2018
|
Level of interest |
|
Interest based on diversification benefit alone (number of responses) |
Interest if low dn pmt feature added (number of responses) |
Interest based on diversification benefit alone (% of responses) |
Interest if low dn pmt feature added (% of responses) |
Interest based on diversification benefit alone (cumulative % of responses) |
Interest if low dn pmt feature added (cumulative % of responses) |
|
Extremely interested |
5 |
75 |
110 |
15% |
21% |
15% |
21% |
|
Very interested |
4 |
144 |
167 |
28% |
33% |
42% |
54% |
|
Moderately interested |
3 |
120 |
104 |
23% |
20% |
66% |
74% |
|
Slightly interested |
2 |
81 |
71 |
16% |
14% |
81% |
88% |
|
Not interested |
1 |
96 |
61 |
19% |
12% |
100% |
100% |
|
Total responses |
|
516 |
513 |
100% |
100% |
|
|
A. Summary of answers to “any confusion of questions” question on survey….
1. Level of interest = 5 and 4 — very few comments about confusion
Level of interest = 1 and 2 — many comments about confusion
Frequently repeated comments at all levels of interest include:
2. Numerous requests for better clarity, numeric examples, scenarios, graphs, tables, too much jargon, use more layman’s terms, too long, wordy
3. Multiple people “had to re-read multiple times” to understand
4. Pull out details, reference website or other doc for details
5. Costs not clear
6. What is national average, how calculated
7. Many folks thought it seems very inexpensive
8. “Eggs in basket” graphic was helpful, liked
B. Summary of answers to “why (or why not) interested” question on survey….
Reasons people are interested (4s and 5s, some 3s)
(in order of how frequently mentioned, #1 is most often …)
1. Security, peace of mind, down market protection, 2008 again
2. Personal loss in past, local markets down in past
3. Diversification benefit,
(Note – a number of respondents specifically mentioned avoiding “eggs in 1 basket”)
Mentioned, but significantly less often
4. Lower down payment
5. Help if financial stress situation
6. Product is affordable
Other points made frequently by interested respondents
1. Not clear presentation
2. Want more info
Reasons people are NOT interested (2s and 1s, some 3s)
(in order of how frequently mentioned, #1 is most often …)
1. Skeptical, seems deceptive, too good to be true, free lunch
2. I don’t need it, no current mortgage, my market over performs
3. Confusing, don’t understand
Mentioned, but less often
4. Don’t want to pay if my market over performs
5. Don’t want more insurance, hate all insurance
6. Need to see actual results
7. Worried if HDC business survives
(Note – We have redesigned our website with a focus on providing easier-to-understand language. We believe this will help address some of the issues commented on within the survey)
Regarding Validity of our Survey
There are numerous articles on the subject of Amazon Mechanical Turk survey validity. We believe the one below is the best, presented by a respected peer-reviewed journal.
Perspectives on Psychological Science is the 4th highest ranked Psychology journal (https://www.scimagojr.com/journalrank.php?category=3201)
Perspectives on Psychological Science Volume 6, Issue 1, 2011, Pages 3-5
Amazon’s mechanical Turk: A new source of inexpensive, yet high-quality, data
· Buhrmester, M., Kwang, T., Gosling, S.D.
· Department of Psychology, University of Texas at Austin, University Station A8000, Austin, TX 78712, United States
Amazon’s Mechanical Turk (MTurk) is a relatively new website that contains the major elements required to conduct research: an integrated participant compensation system; a large participant pool; and a streamlined process of study design, participant recruitment, and data collection. In this article, we describe and evaluate the potential contributions of MTurk to psychology and other social sciences. Findings indicate that (a) MTurk participants are slightly more demographically diverse than are standard Internet samples and are significantly more diverse than typical American college samples; (b) participation is affected by compensation rate and task length, but participants can still be recruited rapidly and inexpensively; (c) realistic compensation rates do not affect data quality; and (d) the data obtained are at least as reliable as those obtained via traditional methods. Overall, MTurk can be used to obtain high-quality data inexpensively and rapidly. © The Author(s) 2011.