Unbanked Rate Among US Households Declines to Record Low – PYMNTS.com
The proportion of U.S. households without a bank account will fall to an all-time low in 2023. At 4.2% of U.S. households, or 5.6 million households, the share of households without a bank or credit union account was the lowest since 1999. Federal Deposit Insurance Corporation (FDIC) begins biennial publication National Survey of Unbanked and […]
Number of renter households grows ‘three times faster’ than homeowner households: Report
The proportion of renter households in the U.S. is growing at three times the rate of homeownership households as housing costs outpace rent increases, a new real estate company reports. redfin found. The growth rate of rental households reached the second fastest pace in nearly a decade, increasing by 2.7% in the third quarter to […]
Middle-income households’ negative view of their personal finances plummets to new low
Gerald Store, CEO of Store Advisors, spoke to Barney & Company about the current state of U.S. consumers ahead of the holiday season. New data shows America's middle class is feeling the squeeze like never before. Primerica's latest work According to the third quarter Financial Security Monitor report, 55% of middle-income households now assess their […]
Study shows children of Democrats less likely to hang out at Republican households
After more than 40 hours of interviews with 10-year-olds in multiple states, children who supported former President Trump were more willing to visit the homes of families with opposing views than their Democratic-leaning counterparts. I concluded that there is. “Researchers find in new study that children who support the Democratic Party increase polarization.” CNN reported […]
Black activist to blast Biden admin energy agenda allegedly causing low-income households to ‘suffer most’
According to an internal preview of testimony to Congress, the head of a leading Black activist group is expected to blast the Biden administration's energy policies for prioritizing tackling climate change over the housing affordability crisis. Donna Jackson, director of membership development for Project 21, a Black think tank at the National Center for Public […]
Support planned for UK households struggling with winter energy bills | Fuel poverty
Ministers have pledged to help households struggling to pay their gas and electricity bills this winter after energy bosses warned that consumer debt had risen to more than £3 billion. With Labour facing criticism for scrapping the universal winter fuel allowance for pensioners, ministers met energy industry bosses on Wednesday to discuss ways to help […]
IRS reports collecting $1 billion from rich households’ back taxes – The Washington Post
The IRS announced Wednesday that it has collected $1 billion in taxes and penalties from hundreds of wealthy households who have accumulated years of delinquent tax debt amid a weakening of IRS enforcement. “The tax claims were not even in dispute. Clearly these people owed back taxes,” IRS Commissioner Danny Wuerfel said on a conference […]
UK general election live: study finds ‘huge rise in working households pushed into poverty’ under Tories | General election 2024
Important Events Conservative Party suffers electoral setback as resources are diverted to defend ministerial seats Eleni Kourea As the Conservatives retreat to safer ground, they are reallocating resources to defend at least three seats held by ministers with a majority of more than 20,000. Conservative activists and candidates in the neighbouring area have been busy […]
There’s ‘More Distress’ in Low-Income Households, But Households ‘Generally’ in ‘Very Good’ Shape
In an interview with CNBC published Monday, Treasury Secretary Janet Yellen said that “some low-income consumers have probably exhausted their savings buffers.”[s] On top of what they’ve been accumulating during the pandemic, we’re seeing a trickle of suffering at the household level. However, despite this, “our economy is good and strong,” “very strong domestic demand” […]
Trump’s proposed tariffs could cost US households $1,500 per year: Report
Former President Donald Trump’s 10% tariff on imported goods could cost American households about $1,500 a year, a new economic analysis has found. Trump, the likely 2024 Republican presidential nominee, has promised to impose a 10% tariff on all foreign goods if re-elected. According to the newspaper, import taxes are levied by sector: $90 per […]