After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?
I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.
I have heard from others about rents not being paid, lack of jobs, etc.
Every day, there’s more news of corporate layoffs, moreso than usual.
I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?
I see economic indicators that I’ve never heard commented on.
We’ve been building storage places around here non-stop for several years. This is clear evidence that people are downgrading their living arrangements.
There are fewer flea market vendors and they’ll selling cheaper and cheaper. This leads me to believe the lower end of the income spectrum can no longer afford what was already stupid cheap. This is kinda true of garage sales, but those have always been the cheapest end of the used market.
People are leaving far less free shit on the curb. Either that or people are snatching it up faster. Not a good sign in either case.