this post was submitted on 05 Sep 2024
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A Boring Dystopia

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Discount retailer says low-income households feel more ‘financially constrained’ than six months ago

Paywall removed: https://archive.is/SLMtR

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[–] psvrh@lemmy.ca -1 points 2 months ago (2 children)

A lot of people used pandemic relief funds to invest, notably in real estate. As the market returns to reality, those people are finding they're massively overextended.

[–] GrayBackgroundMusic@lemm.ee 4 points 2 months ago

A lot of people used pandemic relief funds to invest, notably in real estate.

$1400 to invest in real estate?!

[–] rothaine@lemm.ee 3 points 2 months ago (1 children)

People making less than $35k a year were doing this?

[–] psvrh@lemmy.ca 2 points 2 months ago

Disclosure: I'm Canadian, I didn't catch that this was a US story. In Canada a lot of people who received our equivalent of COVID relief used that money to invest, which made our housing crisis that much worse.