Florida is now the 2nd most financially distressed state in the US -- topped only by Texas, Google helps reveal

[BlueWavePsych]

With prices rising on everything from groceries to rent amid a backdrop of economic uncertainty, many Americans are struggling to pay the bills.

They’re even turning to credit to pay for essentials. A recent LendingTree survey found that one-quarter (25%) of buy-now-pay-later users have used these loans to buy groceries.

But some states are struggling more than others. Florida is now one of the most financially stressed states in the country, second only to another Southern state, according to a new report by WalletHub, which defines financial distress as having credit in forbearance or deferring payments due to financial difficulty.

Texas is the most financially distressed state in the country, followed by Florida, Louisiana, Nevada and South Carolina. The states that are best off? That honor goes to Hawaii, followed by Vermont, Alaska, Oregon and New Mexico.

https://finance.yahoo.com/news/florida-now-2nd-most-financially-164500255.html

Florida leads nation in financially distressed credit accounts, study finds

People in Florida are facing significant financial challenges, with a new study revealing the state has the highest number of distressed credit accounts in the nation.

According to research from WalletHub, Florida ranks as the second-most financially distressed state overall, trailing only Texas. The study examined nine different metrics across all 50 states.

What's particularly alarming is that Florida saw a 23% increase in the number of distressed accounts over the past year. These accounts are considered "in distress" when they're in forbearance or under deferred payment plans.

The study also revealed a political divide in financial wellness, with residents in Republican-leaning states experiencing more financial distress compared to those in Democratic-leaning states. Hawaii and Vermont were identified as the two least financially distressed states.

https://www.fox4now.com/news/local-news/florida-leads-nation-in-financially-distressed-credit-accounts-study-finds

Coming from Faux News, MAGAts must really be hurting.

See also: WalletHub report reveals Florida as 2nd most financially distressed state in the country

[yardwork]

1. This article is about debt.

It was a little confusing until I read the article. They are talking about people with "distressed credit accounts." In other words, people who have borrowed money and are behind on payments. TX and FL have the highest percentage of residents with distressed credit accounts.

I theorized that a lot of Trump voters would run up debt in anticipation of his campaign promises coming true. Trump voters seemed to believe that he would halve prices, for instance. They believed the fairy tales, borrowed a ton of money, and now they owe on their loans and credit cards.

I know this isn't true of everyone who has credit card debt, but if like to see some real investigative reporting on people who took out loans because they thought that Trump was bringing the fairytale.

[JustAnotherGen]

2. May they have

The day they voted for.

[Baitball Blogger]

3. And we know how this goes.

Instead of De Santis doing a 180, he'll escalate the MAGA talk in order to create a protective shell, because the MAGAs are too stupid to figure out that it's their policies that turn a state into Alabama.

[Melon]

4. Very Confusing article

Somehow we have a metric that puts New Mexico or Louisiana above Texas?
Does this have more to do with growth? Texas and Florida were the two high growth regions over the last years with a lot of people moving in. So new mortgages and debt. Louisiana and New Mexico have a lot of poor and no growth.

[yardwork]

7. I had to read the article a few times.

Apparently the metric they're looking at is "distressed accounts."

Like you I did a double take at NM and AK being among the best states.

So you're right, this metric looks at people who (a) took out loans or have credit card debt and (b) are behind in payments.

We'd have to get a lot more granular to find out why.

[Emile]

5. It's only going to get worse too.

[Simeon Salus]

6. Florida's has volatility has long been a subject for portrayal

In The Big Short, one set of observations is that Florida b MAD CRAZY.

[allegorical oracle]

8. At least some of Florida's distress arises from being hit by three hurricanes last

year. FEMA funds that reimburse cities and counties for losses of public facilities (repairs and replacement of electric lines, poles, transformers, for instance). Power companies fronted those repairs but are having problems being reimbursed. FEMA funds have been diverted to immigration gulags. We're being charged about 25% more for power, now.

[MichMan]

9. California is the fastest growing ?

[mitch96]

10. I live in Florida and have not seen any dramatic price increases. Talking to friends around the country, prices

are going up and down like every place else. Gas for instance goes up and down 10¢ every week.
Yes if I shop in specialty stores the prices are high but you have to "shop around"..
If you live by the water you can expect your home insurance to be high.. Many time these websites have to paint gloom and doom to get clicks and advertisers... it's all about the money..
Just my observations
m

[yardwork]

11. This article isn't about prices.

It's rather confusing.

[mitch96]

12. When I saw "financially" I thought money/prices in the article..nt

[yardwork]

13. I had to read the article a few times to understand.

It's about people who have gotten into debt and are behind on payments.