Times Are Not Going to Get Easier for Some
People see a mix of recovery and downturn depending on their own personal circumstance. My job got more secure because of increased security threats worldwide. I work as part of a team protecting people. My neighbors are mix of people doing okay and not doing okay. A lot of them lost their jobs, or they lost income due to stock market losses affecting their retirement. For some it was downsizing in the corporate world. I see a lot more foreclosures in NYC where we live. I have neighbors who just walked away from their mortgages. Some moved back in with parents. Some rented apartments. Some moved out of the state altogether. A friend went to a small town in a lower state where the cost of living is a quarter of what we pay here. He was able to sell his home before it was foreclosed on.
Times are precarious. Not very many people have a significant retirement put away. Some are planning on living on Social Security and working until they die. Some have no plan at all because all of their income is tied up paying monthly bills. Once you get behind, it is tough to get ahead again. People are worried, but they go through their day to day stuff not thinking about it for as long as they can. They do not tell others about it either. Our neighbor on the left of us just was gone one day. Then a real estate company came and put up a for sale sign to sell it for the bank. It was one of the many foreclosures in NYC that pop up out of the blue every single day. I am glad my job security is good right now. However, we are double paying our mortgage to have it paid off in less than a year now. Times are tough, and it is not going to get any easier.