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IPFS News Link • Business/ Commerce

11 Signs That U.S. Consumers Are In Very Serious Trouble As We Head Into The Final...

•, By Michael

U.S. consumers are getting weaker and weaker and weaker.  Today, debt levels have risen to unprecedented heights, but thanks to roaring inflation our standard of living has been steadily going down.  Most Americans are working extremely hard, but they have very little to show for it.  And now the latest economic downturn is really starting to bite.  Layoffs are starting to surge again, once thriving businesses are shutting down all over the nation, and hunger and homelessness are exploding.  If economic conditions continue to deteriorate at this pace, what will things look like a year from now?

For decades, we have been able to count on U.S. consumers to just keep spending money no matter what the economic outlook was, but now things have changed.

The following are 11 signs that U.S. consumers are in very serious trouble as we head into the final stretch of 2023…

#1 U.S. renters are spending 30 percent of their incomes just on rent…

Renters remained burdened in the U.S. during the third quarter of 2023 despite a slight improvement as insurance costs to landlords mounted, according to a new report by Moody's Analytics.

Moody's Analytics found that in Q3, the U.S. rent-to-income ratio (RTI) declined slightly by 0.5% and ended at 30%, a level that is the threshold for being rent-burdened. Renters are considered "burdened" if their rent payments consume 30% or more of their gross, or pre-tax, income. This comes after last year marked the first time that the median renter household in the U.S. paid over 30% of their income on an average-priced apartment when the national RTI reached a high of 30.8%

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