According to The Nielsen Company more than 20 million US homes, about 17% now use wireless phones exclusively. The company's research suggest that by the end of 2008 1 in 5 US homes could be wireless only.

The slowing economy has people looking for ways to cut costs and it seems people can live without that home phone easier than they can live without their wireless phone. Research shows that most wireless only homes, 59%, have incomes of $40,000 or more. Smaller homes are more likely to cut the cord than larger homes. The average wireless only home saves $33 per month.

"As wireless network quality improves and unlimited calling becomes increasingly pervasive, we expect the trend toward wireless substitution to continue," said Alison LeBreton, vice president of client services for Nielsen Mobile. "In a tightening economy every dollar counts, and consumers are more and more comfortable with the idea of ditching their landline connection."

Via Nielsen