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How’s the economy where you are? (ani.social)
submitted 1 week ago by to c/asklemmy@lemmy.world
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After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?

I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.

I have heard from others about rents not being paid, lack of jobs, etc.

Every day, there’s more news of corporate layoffs, moreso than usual.

I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?

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[–] 5 points 1 week ago (1 child)

UK, depends who you talk to. Russian bots would have you believe everything is falling apart. London is also really expensive.

I live on the south coast, even on minimum wage I have never struggled. As long as you can find stable employment you will have enough money to be comfortable. Honestly, I don't even know what to spend my money on.

Approx monthly bills, 900 mortgage (fuck you Liz truss), 175 council tax, 80 electricity, 120 food, 22 internet. Water is on a 6 month cycle and costs some mid 2 figure number each time so that is barely anything.

So about 1300/month. That is for 2 of us, £650/month each, or £7800/year. Minimum wage is about £25k.

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