After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?
I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.
I have heard from others about rents not being paid, lack of jobs, etc.
Every day, there’s more news of corporate layoffs, moreso than usual.
I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?
I’m on the look out for jobs for 4 people right now but not seeing anything good so far despite their talents.
Everyone is stuck housing wise where prices are so high plus inflation most I know can’t get into buying a house and those that want to sell are holding off.
Every retired person I know is on active look out to reduce expenses drastically because the fixed income just enough.