Reported 5 months ago
The article discusses how Americans' views on the economy are influenced by whether they rent or own their homes. Data shows that renters are facing more financial struggles, with rents increasing by over 20% since the pandemic, while homeowners have benefitted from refinancing at historic low mortgage rates. This divide has complicated the Federal Reserve's efforts to combat inflation, as homeowners are propping up consumer prices with their discretionary spending power. Renters are experiencing higher rates of nonpayment for bills, while homeowners have saved money through refinancing, benefiting from increased home equity and stock market gains.
Source: YAHOO