Financial challenges for many

By Tom - Posted at The Domain for Truth:

There’s an older couple in our extended family that’s struggling a bit. They’re in their mid-70s and living on very limited income. The husband gets an average-size monthly Social Security check, but the wife’s work history is shorter and her check is much smaller. He supplements their income by driving a bus for a local school district, but won’t be able to continue because of increasing physical problems. They live in a two-bed apartment and their rent is being raised from $1750 to $2000 per month. They anticipate having to scale back to a single-bedroom apartment. But even with that change they will struggle without his bus-driver income.

Many families across the nation are facing financial challenges because of the rising costs of rents, mortgages, food, and other basics. Prices and fees jumped up during COVID-19 because of major supply-chain issues, and didn’t return. New home construction companies continue to build McMansion developments forcing median income folks to outbid each other for existing homes. I read recently that fast food and chain restaurants are finally reducing prices because former customers are having a hard time paying the rent or mortgage let alone paying $20 for a hamburger meal.

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