Skip to main content

Nearly 30 Percent of Americans Will Dedicate Stimulus Check to Housing Costs

Navi Persaud
Apr 14, 2020
Millennial looking sad. Credit: Photo by Nathan Jefferis on Unsplash

A recent survey revealed that close to 30 percent of Americans will be allocating their stimulus checks to cover housing costs. In addition, the survey revealed that Millennials make up the majority of that percentage. 
 
The survey of 1,013 Americans was conducted by Crediful which found that 28.4 percent of those surveyed would be putting their stimulus check towards rent or mortgage.
 
"Rent and mortgage payments are a big cost, and it’s one that a person would be looking to maintain. We have seen proposals for rent strikes and calls for delayed mortgages and rent payments from different cities and states, so we knew this would be a pressing issue,” said Joey Morris, a project manager for Crediful, according to Yahoo Finance.
 
Out of those surveyed, 31.3 percent were Millennials, 26.3 percent were Gen X and 22.8 percent were Baby Boomers.
 
“Millennials may have less savings and less of a safety net compared to older generations, who have had more time to accumulate more wealth,” said Joe Mercurio, another project manager for Crediful.
 


 
Published
Apr 14, 2020
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021