After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?
I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.
I have heard from others about rents not being paid, lack of jobs, etc.
Every day, there’s more news of corporate layoffs, moreso than usual.
I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?
I am in Melbourne, Australia, things are still ticking along fine enough BUT we can see the wave coming.
There was a book from 1957 called ‘On the beach’, it was about Melbourne being last city on Earth that has survived a nuclear war and how we would surcumb to the same fate as everyone else. It is starting to feel like that but in economic terms.
On The Beach was adapted into a good movie in 1959