@[email protected] to [email protected] • 2 months agoAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comexternal-linkmessage-square45fedilinkarrow-up1243arrow-down19cross-posted to: [email protected][email protected]
arrow-up1234arrow-down1external-linkAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.com@[email protected] to [email protected] • 2 months agomessage-square45fedilinkcross-posted to: [email protected][email protected]
minus-square@[email protected]linkfedilink4•2 months agoPeople spending all their savings is a consumer confidence indicator. Almost never a recession indicator
minus-square@[email protected]linkfedilink7•2 months agoBut if they’ve spent all their savings they might not have money for things like a mortgage going forward
minus-square@[email protected]linkfedilink2•2 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.
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.