Coronavirus Shock Is Destroying Americans’ Retirement Dreams
For older people, the coronavirus crisis has been an appalling shock. Many can’t travel or see grandchildren. Even buying groceries is a risk. Their life savings are melting as the global economy shuts down and financial markets plummet. The pain may be particularly acute in the U.S., where Americans rely on a retirement system that was broken well before a pandemic dashed it to pieces.
Reprinted from the original post at https://wolfstreet.com/
Go to this link for the full article.
Note that here in the US we rank #11 worldwide. Read the article to find out who’s in the top ten.
Check out the full article here for more scary details.
The average price for the Greater Toronto Area (GTA) plunged 12.4% overall to C$767,818. This represents a drop of about C$110,000 in the average home price over the 12-month period.
Tony Yang received his Ph.D. in history from the University of California, Riverside in 2009. Since then, he’s worked on and off as a history lecturer, but has had to depend on unemployment and food stamps to get by.
In his best year since getting his Ph.D., Yang says he made about $32,000; in his worst, about $10,000. He says there’s a perception that if you have a doctorate, you automatically walk into a high-paying job.
“I have the prestige of holding a Ph.D., but that [isn’t] paying the bills,” he says.
via Why So Many Ph.D.s Are On Food Stamps : NPR.
The Next Leg Of The Housing Crisis In Five Simple Charts | zero hedge
You may wonder why I continue to post charts on the economy in a life underwriting blog and website. Here’s why.
People under financial strain will sometimes resort to extraordinary measures. In this economy, pay extra attention to your financial underwriting.
Financial underwriting matters more now than it ever has in a very long time.
Unable To Sell Homes, Brokers Turn To Arson
This a sad article about the real estate bust, arson, and insurance fraud.
Pay attention to financial underwriting. I suspect there will be more sad stories like this in the future.
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