#1 Real disposable income per capita continues to fall. In the fourth quarter of 2012, it was sitting at $37,265. By the time that the fourth quarter of 2013 had come around, it had dropped to $36,941. That means that average Americans have less money to go shopping with than they did previously.
#2 In January, real disposable income in the U.S. experienced the largest year over year decline that we have seen since 1974.
#3 As disposable income decreases, major retailers are closing thousands of stores all over the country. Some are even calling this “a retail apocalypse“.
#4 From September 2013 to January 2014, the personal saving rate in the United States dropped by a staggering 16 percent.
#5 During the fourth quarter of 2013, we witnessed the largest increase in consumer debt in this country that we have seen since 2007.
#6 Fewer Americans are applying for mortgages these days. In fact, the MBA Purchase Applications Index is now the lowest that it has been since 1995.
#7 Overall, the rate of homeownership in the United States has fallen for eight years in a row.
#8 Many Americans are finding it increasingly difficult to afford a new car or truck. The following comes from a recent CNBC article…
A new study shows the average household in 24 of America’s 25 largest metropolitan areas cannot afford to pay for the average priced new car or truck.
“Just because you can manage the monthly payment doesn’t mean you should let a $30,000 or $40,000 ride gobble up such a huge share of your paycheck,” said Mike Sante, managing editor of Interest.com. “Many people are spending money on a car payment that they could be saving.”
#9 Incredibly, 56 percent of all Americans now have “subprime credit” at this point.
#10 Total consumer credit has risen by a whopping 22 percent over the past three years.
#11 In the third quarter of 2007, the student loan delinquency rate was 7.6 percent. Today, it is up to 11.5 percent.
#12 Overall, U.S. consumers are $11,360,000,000,000 in debt.
#13 While Barack Obama has been in the White House, median household income in the United States has fallen for five years in a row.
#14 U.S. workers are taking home the smallest share of the income pie that has ever been recorded.
#15 One recent study found that about 60 percent of the jobs that have been “created” since the end of the last recession pay $13.83 or less an hour.
#16 Middle-wage jobs accounted for 60 percent of the jobs lost during the last recession, but they have accounted for only 22 percent of the jobs created since then.
#17 According to one recent survey, only 35 percent of all Americans say that they are better off financially than they were a year ago.
#18 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”. In 2014, an astounding 49 percent of them do.
#19 The poverty rate in America has been at 15 percent or above for 3 consecutive years. That is the first time that has happened since 1965.
