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Consumers have spent all of their excess savings from the pandemic. That's just one reason why stocks are poised to fall, JPMorgan says

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'Lower income cohorts are increasingly coming under pressure with fewer offsets and with little sign of relief from the high cost of capital.'

Have you been looking around the housing market and thinking "There goes the neighborhood"? Well, you are not alone. In May of this year, ATTOM recorded a sharp uptick in foreclosure rates around the...STORY: Chinese developer Evergrande has filed for bankruptcy protection in a U.S. court.The property giant made the move in one of the world's biggest debt restructuring exercises.

The company's offshore debt restructuring involves a total of $31.7 billion.It will meet with its creditors later this month to discuss its restructuring proposal.A number of Chinese property developers have defaulted on their offshore debt obligations.Leaving in its wake unfinished homes, plunging sales and battered investor confidence.The property sector makes up about a quarter of the economy.

 

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