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How Much Scarier Can It Get?

The new December numbers just out today showing a 16-year low in new home construction are the latest in a long string of truly terrible financial

Jul 31, 2020
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The new December numbersjust out today showing a 16-year low in new home construction are the latest in a long string of truly terrible financial developments. There’s also this Wall Street Journal (sub. req.) story on a possible slump in commercial real estate. If that’s not unnerving enough, consider how Calculated Risk views it:
The strong investment in non-residential structures has been one of the keys to avoiding recession through . Now that commercial real estate appears to be slumping, it looks like non-residential investment will slump too – putting the economy into recession.
Yikes.
Actually my vote for scariest story recently goes to rising credit card defaults at[ American Express](http://American Express Hit by Slowing Economy). Why? Because some people carry around American Express cards because it forces them to pay off their balances each month. So when they can’t come up with the money to cover their charges, it means they are genuinely , authentically stretched. They’re not going to be out shopping anytime soon. And we all know what that means – another scary economic story.
Hajra Shannon

Hajra Shannon

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Hajra Shannona is a highly experienced journalist with over 9 years of expertise in news writing, investigative reporting, and political analysis. She holds a Bachelor's degree in Journalism from Columbia University and has contributed to reputable publications focusing on global affairs, human rights, and environmental sustainability. Hajra's authoritative voice and trustworthy reporting reflect her commitment to delivering insightful news content. Beyond journalism, she enjoys exploring new cultures through travel and pursuing outdoor photography
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