High Inflation, Costly Housing Drain Americans; Economic Storm Clouds Gather for 2024
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Inflation remains high at 3.1% in November 2023, squeezing Americans already struggling with record credit card debt and turning to risky financing options.
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Housing market is out of reach for most with median home prices beyond what average earners can afford; more home purchase agreements being canceled.
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Consumer sentiment declining showing Americans feel worse about current conditions and future expectations.
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Oil and consumer goods likely to become more expensive in 2024 further hitting consumer budgets.
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2024 likely to see economic slowdown or mild recession with rising unemployment impacting presidential race.