Growing Financial Stress Among Americans

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BUSINESS & ECONOMY

📊 Survey Reveals Growing Financial Stress Among Americans

LegalShield's Consumer Stress Legal Index has hit its highest since November 2020, signaling rising U.S. financial stress despite a strong labor market and GDP growth. Tracking legal aid requests for bankruptcies and foreclosures, the Index reflects a ten-month increase. Matt Layton notes a worrying trend: "Consumers are stretched financially thin," forecasting heightened household debt amidst soaring interest rates and inflation.

🏦 Billionaire CEO Predicts $1 Trillion in Real Estate Defaults in Next 2 Years Amid Market Turmoil

The U.S. commercial real estate market faces its steepest decline in over 50 years, with prices down 11% since March 2022 amid rising interest rates, and remote work trends. Howard Lutnick, CEO of Cantor Fitzgerald, warns of $700 billion to $1 trillion in defaults in two years, calling it a "very, very ugly market" and a "generational change." With $1.2 trillion in maturing debt and interest rates rising sharply, defaults are imminent.