Posted 12/6/2023, 8:37:56 PM
High Prices and Debt Burdens Weigh on Americans' Wellbeing Despite Economic Gains
- Inflation is still painfully high compared to pre-pandemic levels, with prices of everyday items like food, gas, and rent significantly more expensive
- Home ownership feels out of reach for many due to high mortgage rates and home prices
- Credit card debt is surging, with delinquencies rising as interest rates spike
- More Americans are tapping retirement funds early to cover immediate financial needs
- Personal savings rates remain low compared to pre-pandemic levels, indicating people have less money set aside