For many individuals and families, spending money in the moment may seem like the quick path to instant happiness, but down the line, purchases can have long-lasting impacts. A recent Bankrate study surveyed 3,700 adults and found that 74% experienced some level of financial regret. The largest percentage described not saving for retirement earlier as the No. 1 regret. The next most common regret was taking on too much credit card debt, followed by not saving enough for emergency expenses. The study additionally showed that almost half of Americans who have stress over financial regret have become increasingly more stressed this year compared to last year. This increased stress is most common among younger generations, with 60% of Gen Zers and 57% of millennials reporting higher stress levels in 2023. The older generations of Gen Xers and baby boomers have had more years to work toward accumulating wealth, leading to… Read More »
Investing in commercial real estate has always been a high-stakes decision where all aspects should be considered. In recent years, the industry has proven to be an even more crucial part of business decisions, especially as it relates to office space. This growing stress can be attributed to increased interest rates, popularity of working from home, and banking stress, according to an analysis by Moody’s Investor Service. The increased number of employees who prefer to work from home has inherently and exponentially raised the risk for office-based real estate loans. A commercial workplace might not be worth the investment simply due to the number of people willing to utilize the space. This, paired with an overall increase in interest rates across the country, leads to uncertainty in investing in property. These factors affect more of the population than most would expect; Moody’s reported that office real estate loans represent $736… Read More »
Commercial Real Estate |
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The American Bankruptcy Institute recently reported Americans owe more than $1 trillion in credit card debt. In the past two years, credit card debt has risen by about $250 billion in the wake of the COVID-19 pandemic. This rise in debt is a large contrast when compared to 2021, where credit card companies saw Americans paying off a significant amount of debt. The efforts seen to pay off individual debt can be attributed to the amount of money people saved in the year 2020 during the pandemic. With businesses being closed and social distancing in full effect, people were less likely to spend money on outings. Americans were also receiving stimulus checks and unsure about what the future held, leading them to save. But as pandemic-related restrictions eased, consumer spending habits have come back in full force. Today, the average American household has accumulated $10,000 in credit card debt. Additionally,… Read More »
Bankruptcy, Consumer Credit |
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