Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.
Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.
High borrowing and low personal savings are dashing hopes of an economic soft landing
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I haven't gotten a raise in two years (despite getting a promotion) and my rent has gone up 70% in the past 4 years. I've been effectively priced out of ever owning a home where I live. All this to say my partner's chud dad is old and my partner has to manage some of his finances occasionally. Just one of his accounts made $500K so far this year. Our only chance at owning a home is to bank on a generational wealth transfer that could take a decade or more. It's a fucking joke.
It's nuts to me that parents making that kind of money don't just buy houses for their kids. Like how fucking cruel can you be?
expected coming from the country that kicks out 18yr olds from home like sacks of shit and insist on driving huge suvs to the detriment of their kids
this was always so weird to me. My parents at least have an excuse that they're as broke as I am so I don't expect it from them lol but I have a friend whose parents are retired and have like, literally millions spread across different accounts and they refuse to help him out with anything. it's not like they have a bad relationship either, it's just a "pull yourself up by the bootstraps, kiddo" kinda thing.
I mean. You could always like
Yaknow
Cause an accident