A Boring Dystopia

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Dollar General warns poorer US consumers are running out of money (www.ft.com)

submitted 2 months ago* (last edited 2 months ago) by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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

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[–] rothaine@lemm.ee 53 points 2 months ago (16 children)

the depletion of savings built up during the pandemic

Built up savings? Is this a thing?

[–] psvrh@lemmy.ca -1 points 2 months ago (3 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.

[–] 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.

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