ML-Implode News - Why So Many Families Are Feeling Extreme Financial Stress

... our incomes have been incredibly stagnant.Â Â In fact, we just learned that median household income did not go up at all during 2016. This is one of the reasons why we consistently see families fall out of the middle class month after month.Â Even if you keep the same job year after year, your standard of living is going to steadily go down unless your pay goes up.
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And today we learned that the number of Americans refinancing their homes has fallen to the lowest level that we have seen since 2009... If you will remember, we also saw a slowdown in mortgage refinancing just before the great financial crisis of 2008. For mortgage applications overall, they are now down almost 31 percent from where they were a year ago... And we also learned this week that FHA mortgage delinquencies increased during the fourth quarter "for the first time since 2006â€³... If this continues, it won't be too long before everyone is talking about a new housing crash.

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Why So Many Families Are Feeling Extreme Financial Stress