return2ozma@lemmy.world to News@lemmy.world · 8 months agoAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comexternal-linkmessage-square45fedilinkarrow-up1244arrow-down19cross-posted to: collapse@lemmy.ml
arrow-up1235arrow-down1external-linkAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comreturn2ozma@lemmy.world to News@lemmy.world · 8 months agomessage-square45fedilinkcross-posted to: collapse@lemmy.ml
minus-squareiopq@lemmy.worldlinkfedilinkarrow-up6arrow-down2·8 months agoPeople spending all their savings is a consumer confidence indicator. Almost never a recession indicator
minus-squarevenusaur@lemmy.worldlinkfedilinkarrow-up7·8 months agoBut if they’ve spent all their savings they might not have money for things like a mortgage going forward
minus-squareultranaut@lemmy.worldlinkfedilinkarrow-up4arrow-down2·8 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-squareFurbag@lemmy.worldlinkfedilinkarrow-up4·8 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-squarevenusaur@lemmy.worldlinkfedilinkarrow-up4·8 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.