#MAGA: 25% Of Households Have Less Than $400 In Savings, Nearly One-Third Struggle To Afford Food

We’re told that everything is peachy and the economy is roaring as if it’s the mid-to-late 1920’s.

Problem is, I’m not noticing anyone other than major Jewish plutocrats and the pampered top 10% or so receiving gibs courtesy of Wall Street and major investment firms.

Everyone else is still pretty much struggling to make ends meet – a harder and harder task as prices in the suburbs rise due to the encroaching Colored flood.

CNBC:

Financial stress visits renters more than homeowners.

That’s the main takeaway from a new report by the Urban Institute, a nonpartisan think tank in Washington.

Rental costs are rising much faster than renters’ salaries. Between 1960 and 2016, the median income for a renter grew by just 5 percent. During the same period, the median rent ballooned by more than 60 percent, according to The Joint Center for Housing Studies of Harvard University. (Both figures account for inflation.)

To be sure, buying a house has also become harder for many Americans — to do so now costs four times the median household income. The homeownership rate fell to 63 percent in 2016 – the lowest rate in half a century.

Like the racial census data, this number is actually quite skewed when you study the raw data.

Baby Boomers and older Generation X men and women (who enjoyed a far better overall economy back in the day) are included in this number, so one can deduce quite easily that the younger folks are reeling from the start of adulthood onward.

…

Half of renters in the survey reported a material hardship in the past year, compared with one-third of homeowners.

More than one-quarter of U.S. renters in the survey were not confident they could cover a $400 emergency. Around 18 percent of homeowners reported low emergency savings.

This news actually scares me considering the fact that in many sectors of the economy, we’re living in a job-seeker’s market.

Because if that’s the case, I think we’re going to be in for a very nasty time if and when this latest bubble goes a-popping – my personal prediction is that credit card debt and bloated personal loans will be one of the prime causes for the next collapse.