Articles Tagged with Miami debt defense lawyer

We are now slightly more than a month in to the Trump presidency, and Democrats are already gearing up for the next election, setting their sights on the next mid-term. However, if they want to prevail, they are first going to have to acknowledge and accept that the Obama administration did not oversee a golden era of financial and economic policies – no matter what kind of challenges he inherited.miami

The reality is Obama had many opportunities to help those in the working class, and he repeatedly declined to seize them.

The two main areas to which we refer:

  • Obama’s handling of the foreclosure crisis/ subsequent bank bailouts. The end result of the policies adhered to on these fronts resulted in concentrated financial power, rather than support of the American middle class.
  • Enactment of pro-monopoly policies. This approach crushed rural area economies, so it was unsurprising many of those voters – even those who had previously voted for Obama – swung to the side of Donald Trump.

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The majority of Americans are not prepared for retirement. This includes those who are fast approaching retirement age. grandmothersad

Study after study has shown a substantial portion of workers don’t have any pension or savings whatsoever.

Of course, this impacts these individuals directly. But it’s also a threat to the financial fabric of the rest of the country. They will either need to work long after they might otherwise have retired (which leaves less space for younger workers to break into new careers) or if they are unable to work, their cost of living after a meager Social Security check will be passed on to taxpayers.

The reasons are multi-pronged, but it has to do with:

  • Increased cost of living;
  • Stagnant wages;
  • The collapse of the housing market;
  • Mounting debt.

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Renters in Miami are being bled dry by a combination of sharply rising housing costs, stagnant wages and lower-than-average incomes. miami1

A report from the website apartmentlist.com, based on figures from the most recent 2014 U.S. Census, reveals that no other city in the county had as many renters as cost-burdened as those in Miami. Two out of every three renters in Miami are paying a third or more of their salaries to their landlord. Renters who pay more than 30 percent of their income for housing are considered “cost-burdened.”

Of course, rents aren’t necessarily as high as what you might see in Boston or New York or San Francisco. But people here in South Florida are earning much less in terms of salary. Further, home ownership is not an option that is available to many people who live here because home prices have skyrocketed as the housing market stabilizes from the housing crisis. South Florida had been hit particularly hard by the economic downturn, and while the uptick in housing prices has been good for some folks, it has meant others have lost their homes and/or are stuck in high-price rentals. Continue reading