In New York City, residential power shutoffs are up fivefold compared to one year ago…
In some areas, such as New York City, the surge has been dramatic — with residential shutoffs in August up fivefold from a year ago, utility filings show.Needless to say, Americans aren’t just getting behind on their power bills.
As economic conditions have steadily gotten worse, delinquency rates have risen to historic levels…
Credit card balances alone jumped $24 billion, reaching an all-time high, while the share of balances in serious delinquency—90 days past due—climbed to a nearly financial-crash level of 7.1 percent.
Auto loans tell a similar story, with serious delinquency rates at 3 percent, the highest since 2010. And a spike in resulting defaults has triggered a wave of repossessions in 2025, with 2.2 million vehicles already repossessed, per figures from the Recovery Database Network (RDN), and forecasts of a record 3 million by year’s end.
“Delinquencies, defaults, and repossessions have shot up in recent years and look alarmingly similar to trends that were apparent before the Great Recession,” the Consumer Federation of America said in a recent report.When you are drowning in debt, relocating to a better place that will be more secure for your family is nothing but a pipe dream.
Most Americans will have to deal with whatever is ahead wherever they are located right now.
But the ultra-wealthy have enough money to live wherever they want, and the fact that so many of them are choosing to live in “fortress communities” says a lot about where things are heading.