What Economic Recovery? That may continue to be the refrain for most Americans today who are still out of work and searching for that magic pill that will get them back to happiness. Sad to say; Washington has run out of Magic Pills. So! As the saying goes -"You're On Your Own" Hope for the Best or Take Control of your own Financial Future!
Mathews Realty Group
Economic Recovery Fails to Ease Financial Stress on U.S. Households
A rise in stock prices has helped to grow consumers’ net worth, but financial duress related to housing and a weak job market are weighing heavy on U.S. households and overshadowing any assurances that an economic recovery is underway.
The nonprofit credit counseling agency CredAbility has released its Consumer Distress Index results for the fourth quarter of 2010. The index measures the financial condition of the average U.S. household.
Based on the index’s data, Cole says a tale of two different American families is developing. “The family with one or two stable jobs is seeing their investments grow again and is beginning to spend more of their household income,” he said. “But families that have lost a job or seen other income sources reduced, and who don’t have enough income to invest, have experienced increased financial distress.”
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