@[email protected] to [email protected] • 1 year agoAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comexternal-linkmessage-square45fedilinkarrow-up1245cross-posted to: [email protected][email protected]
arrow-up1245external-linkAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.com@[email protected] to [email protected] • 1 year agomessage-square45fedilinkcross-posted to: [email protected][email protected]
minus-square@[email protected]linkfedilink6•1 year agoPeople spending all their savings is a consumer confidence indicator. Almost never a recession indicator
minus-square@[email protected]linkfedilink7•1 year agoBut if they’ve spent all their savings they might not have money for things like a mortgage going forward
minus-square@[email protected]linkfedilink4•1 year 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.
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.