return2ozma@lemmy.world to News@lemmy.world · 2 months agoAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comexternal-linkmessage-square45fedilinkarrow-up1244arrow-down19cross-posted to: collapse@lemmy.mlaboringdystopia@lemmy.world
arrow-up1235arrow-down1external-linkAmericans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed saysfortune.comreturn2ozma@lemmy.world to News@lemmy.world · 2 months agomessage-square45fedilinkcross-posted to: collapse@lemmy.mlaboringdystopia@lemmy.world
minus-squareiopq@lemmy.worldlinkfedilinkarrow-up6arrow-down2·2 months agoPeople spending all their savings is a consumer confidence indicator. Almost never a recession indicator
minus-squarevenusaur@lemmy.worldlinkfedilinkarrow-up7·2 months agoBut if they’ve spent all their savings they might not have money for things like a mortgage going forward
minus-squareultranaut@lemmy.worldlinkfedilinkarrow-up4arrow-down2·2 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.