More Americans are out of work longer, as employers hold back on both hiring and firing
Recurring jobless claims just hit their highest level since late 2021.
America’s homes, and the people who buy them, are getting older
A shortage of new construction is pushing buyers toward aging homes — and they’re not as affordable as they used to be.
Student loan delinquencies hovered near zero during Covid — but a spike may be coming
With payments due again, nearly 10 million borrowers could fall into default within months.
Consumer sentiment hits historic low as inflation fears hit 44-year high
Tariff uncertainty is sending inflation concerns to their highest point since the early ’80s.
A near record-low number of Americans feel their income taxes are “fair” this season
As the old adage popularized by Benjamin Franklin reminds us, nothing in life is certain except death and taxes, though that doesn’t mean that anyone’s ever been thrilled about either. Now, with this year’s IRS filing deadline tomorrow, a near record share of Americans say their income taxes are “not fair” this season, per recent Gallup polling.
According to the survey from March, just 46% of Americans said they felt that the income tax they’ll pay this year is “fair” — just above the record low of 45% set in 1999. Meanwhile, half of respondents said that they felt the exact opposite, with that cohort having risen steadily from the 35% mark seen as recently as 2017. Some 59% of respondents said that the amount of income tax they pay is “too high,” with a record 58% saying that lower-income people pay “too much.”
According to the survey from March, just 46% of Americans said they felt that the income tax they’ll pay this year is “fair” — just above the record low of 45% set in 1999. Meanwhile, half of respondents said that they felt the exact opposite, with that cohort having risen steadily from the 35% mark seen as recently as 2017. Some 59% of respondents said that the amount of income tax they pay is “too high,” with a record 58% saying that lower-income people pay “too much.”
Baby boomers bought more homes than millennials did last year
As multigenerational home purchases rise, wealthy baby boomers are now buying homes more than younger generations — often with cash.
There is a record number of billionaires in the world, and they’re richer than ever
Forbes’ 39th annual billionaires list, published yesterday, revealed that there are now 3,028 billionaires around the world, with a staggering estimated collective wealth of $16.1 trillion. In the US alone, where even the head of state sits at 700th place in the global rankings, there are a record 902 billionaires. China had 516 on Forbes’ list.
Even with Tesla shares tanking this year, CEO Elon Musk tops the overall list with an estimated net worth of $342 billion, while Mark Zuckerberg and Jeff Bezos round out the top three with $216 billion and $215 billion, respectively. That’s the first time since Forbes started tracking the figures in 1987 that three people have been worth more than $200 billion, with a further 12 billionaires also in the dozen-digit club ($100 billion). To put that into perspective, there wasn’t a single member in 2017.
Going further back, the points of comparison become even more stark.
Even with Tesla shares tanking this year, CEO Elon Musk tops the overall list with an estimated net worth of $342 billion, while Mark Zuckerberg and Jeff Bezos round out the top three with $216 billion and $215 billion, respectively. That’s the first time since Forbes started tracking the figures in 1987 that three people have been worth more than $200 billion, with a further 12 billionaires also in the dozen-digit club ($100 billion). To put that into perspective, there wasn’t a single member in 2017.
Going further back, the points of comparison become even more stark.
Consumer confidence falls sharply
With prices still high, tariffs looming, and stocks taking a hit, sentiment has slid to its lowest since 2021.
Gen Z is jumping into the housing market wherever they can afford it
There’s a pretty strong correlation between lower house prices and higher Gen Z ownership... but even the competition for affordable housing is pushing prices up.
