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Economy

Over 90% of Americans have cut spending ‐ and plan to through holidays: survey

2023-09-20

[NYP] Most American adults have cut spending this year, according to a new CNBC-Morning Consult survey, which also revealed that consumers plan to stay frugal through the holidays.

A whopping 92% of adults have cut back on discretionary spending over the past six months, CNBC found after polling 4,403 US adults last week.

Consumers were most skittish when shopping for clothes and dining out at restaurants — 63% and 62%, respectively.

The news site’s poll also showed that consumers at all income levels are feeling pinched by the economy. While labor strikes in Hollywood and Detroit provoke fresh uncertainty, inflation rose a surprisingly stiff 3.7% last month — still well above the Federal Reserve’s 2% target.

Fifty-five percent of lower-income households earning $50,000 or less annually told CNBC that their personal finances are suffering from the state of the US economy, while 61% of middle-income earners bringing in $50,000 to $100,000 are feeling the squeeze.

Posted by:Besoeker

#10 A lot of places have an "empty lot penalty" built into their property tax code.

Posted by: M. Murcek 2023-09-20 11:19

#9 f you own a house, your local Government is likely increasing its market value and demanding more Tax $$$$$.
I lost a building on my property during a thunderstorm and my property tax went up.

Posted by: Deacon Blues 2023-09-20 11:17

#8 Give me your address and I'll send you a bag of candy.

A Yuletide carol?

Posted by: Grom the Reflective 2023-09-20 11:05

#7 Property Tax Cap: Does Your State Have One?

Posted by: Skidmark 2023-09-20 10:25

#6 #1.
Really?.... Really?
Give me your address and I'll send you a bag of candy.

Posted by: Cleared Cookies Lost Nic 2023-09-20 10:22

#5 Zeihan (he hasn't been mentioned in the comments here lately, so probably "out of favor" now - I have to admit I don't even try to keep up) says the US slowdown is hammering China.

Nice thought, if true.

Posted by: M. Murcek 2023-09-20 09:18

#4 Over 90% of Americans have cut spending ‐ and plan to through holidays: survey

The other 10% are the pols and bureaucrats in Washington who'll continue to splurge on the remaining value of your money.

Posted by: Procopius2k 2023-09-20 08:59

#3 /\ If you own a house, your local Government is likely increasing its market value and demanding more Tax $$$$$ (even if you can't sell it).

Then becoming the property of the bank or the State (largely a distinction w/o a difference). See how that works ?

Posted by: Besoeker 2023-09-20 06:45

#2 BTW: What's the usual reaction of a business when consumer sales/buying stagnates for months?

OBTW: If you own a house, your local Government is likely increasing its market value and demanding more Tax $$$$$ (even if you can't sell it).

So your house value goes up, local taxes increase, your home owners insurance increases to cover the new value. All of which means your Escrow account needs more $$$$.00.
So your monthly Home Loan payment just increased ##+% depending on your housing market area.

QUESTION: Did your NET-INCOME increase?

Posted by: NN2N1 2023-09-20 06:43

#1 Given the ridiculously inflated prices for candy treats.

I am wondering, how many homes can't afford or won't do Halloween this year?

Or be extra frugal in handouts giving only 1 piece of candy.

Either of which, will likely increase the likelihood of vandalism of those private properties.

Posted by: NN2N1 2023-09-20 06:17

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