Everyone appears to be on edge these days.

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The housing market appears to be spiraling. Many homeowners, even the affluent ones, seem desperate to sell their properties, some resorting to significant price slashes. For instance, a listing in Houston has seen a substantial -12% price cut, yet it remains unsold. This echoes a broader trend: Wall Street investors are shedding their homes in droves.

There’s an urgency in these moves. The personal saving rate in the US has plummeted to 3.4%, the lowest since the Global Financial Crisis. Even more alarming, it’s the lowest since the Great Depression. This rapid spending coupled with inflation is triggering financial strains. Delinquencies on various loans are rising, including mortgages, auto loans, and credit cards. As the economic pressure builds, many Americans are pushing themselves with increased overtime, leading to widespread burnout.








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Delinquencies rise on mortgages, auto loans and credit cards

According to the New York Fed’s Q3 Household Debt and Credit (HHDC) report, the share of debt newly transitioning into delinquency continues to rise for mortgages, auto loans, and credit cards.

When you include the debt, the delinquency rates, while rising, continue to reflect a normalization back to prepandemic levels.

Average credit card balances top $6,000, a 10-year high, as delinquencies rise

Credit card debt is mounting.

Americans now owe $1.08 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday.

Balances jumped 15% from a year ago, according to a separate quarterly credit industry insights report from TransUnion, while the average balance per consumer hit $6,088, the highest in 10 years.

Trained professional helps woman deal with grocery inflation: