private finance company WalletHub lately launched a study that examined which of your 100 largest cities inside the U.S. are handling the most significant financial burdens in 2024. And one Florida metropolis put in the top 10 American towns where citizens are managing the most economic distress.
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right here’s WalletHub’s list of the highest ten U.S. cities with by far the most monetarily distressed people:
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For the last few several years, The united states has become via several waves of spiking inflation fees, large unemployment rates and economic downturn rumors. for many, it’s all catching up now and Placing pressure on their individual finances.
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among the unspoken key contributors to Jacksonville's superior rating on this checklist could be its dimensions. based on the city's tourism industry experts, Jacksonville is greater than 840 sq. miles big, which makes it the biggest town while in the continental U.S. by landmass.
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to uncover its rankings, WalletHub applied metrics like the average credit history rating of every city’s inhabitants, the typical number of bank accounts in distress, personal bankruptcy filings and Google lookups for phrases with text like “debt” and “loans.”
right here’s WalletHub’s leading ten towns which can be under the most economical distress, which Florida metropolis placed on the checklist and why.
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“Which WalletHub defines as using a credit account that is in forbearance or has its payments deferred, meaning the account holder is briefly permitted to not make payments on account of economic challenges.”
According to the metrics WalletHub made use of, The rationale is more than likely credit card debt and low credit history scores. In unique classes for this study, Jacksonville ranked in the best 10 cities exactly where residents most often google phrases Along with the phrase “debt.”
So why are Jacksonville residents in economic distress if the price of housing appears to be going down?
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