Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says - eviltoast
Consumer spending hit a peak of $85 billion per month last fall.
    • iopq@lemmy.world
      62·
      6 months ago

      People spending all their savings is a consumer confidence indicator. Almost never a recession indicator

      • venusaur@lemmy.world
        7·
        6 months ago

        But if they’ve spent all their savings they might not have money for things like a mortgage going forward

        • ultranaut@lemmy.world
          42·
          6 months ago

          Unemployment is still very low, there’s likely not enough people in that kind of situation to have a significant impact on the housing market.

    • Furbag@lemmy.world
      4·
      6 months ago

      I thought for sure the housing market would implode after the moratorium for evictions during COVID expired.

      I was wrong. Corporations just own too much real estate for something like that to make a dent.