@return2ozma to News • 7 months agoAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comexternal-linkmessage-square45arrow-up1244arrow-down19cross-posted to: [email protected]aboringdystopia
arrow-up1235arrow-down1external-linkAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.com@return2ozma to News • 7 months agomessage-square45cross-posted to: [email protected]aboringdystopia
minus-square@iopqlink4•7 months agoPeople spending all their savings is a consumer confidence indicator. Almost never a recession indicator
minus-square@venusaurlink7•7 months agoBut if they’ve spent all their savings they might not have money for things like a mortgage going forward
minus-square@ultranautlink2•7 months agoUnemployment is still very low, there’s likely not enough people in that kind of situation to have a significant impact on the housing market.
minus-square@Furbaglink4•7 months agoI thought for sure the housing market would implode after the moratorium for evictions during COVID expired. I was wrong. Corporations just own too much real estate for something like that to make a dent.
minus-square@venusaurlink4•7 months agoYeah it’s nuts. And nobody talking about laws to prevent stuff like this.
Housing market collapse?
People spending all their savings is a consumer confidence indicator. Almost never a recession indicator
But if they’ve spent all their savings they might not have money for things like a mortgage going forward
Unemployment is still very low, there’s likely not enough people in that kind of situation to have a significant impact on the housing market.
I thought for sure the housing market would implode after the moratorium for evictions during COVID expired.
I was wrong. Corporations just own too much real estate for something like that to make a dent.
Yeah it’s nuts. And nobody talking about laws to prevent stuff like this.