“99% of Americans will be financially worse-off than they were pre-pandemic by mid-2024, JPMorgan says”

“…”It is likely that only the top 1% of consumers by income will be better off than before the pandemic,” Kolanovic wrote, pointing to the growing signs of credit card and auto loan delinquencies, as well as Chapter 11 filings.

The chart below shows how, by June 2024, every income group except the top 1% is on pace to dip below their March 2020 levels of inflation-adjusted liquid assets, in the form of deposits and money market funds.

…”There are no significant delinquencies in residential mortgages yet, as consumers locked in low interest rates,” Kolanovic said. “However, existing home sales have dropped near record lows, and ~$6.5 trillion of commercial real estate debt remains an overhang.”…”

https://finance.yahoo.com/news/99-americans-financially-worse-off-005110689.html

It’s a safe bet to assume around that time the stock market will not be doing well. Knowledge is power.