20 million households are delinquent on their energy bills. Creating a tsunami of utility shut offs never seen in the history of the US before.
The data from Bloomberg and the US Census Bureau shows that property owners are now in far worse financial shape than in the depths of the COVID lockdowns.
Numerous recent bills, policies, and hikes are creating a perfect storm that could not only leave millions without power this winter, but see them lose their homes and business properties as well.
Crashing The Economy, Crushing Property Owners
After over-stimulating the economy and creating new highs in inflation, the government is trying to overcompensate by crashing the economy.
This over correction is coming in the form of continued interest rate hikes, new taxes, higher taxes, and other new regulations and policies.
It seems they have their foot to the floor on this gas pedal, even though 97% of executives already report the economy is in a recession, or heading into one. 51% of companies are now making layoffs, or are planning them. On top of all of those giving up and going out of business.
Even mortgage lenders are finding their own credit lines being cut off as capital dries up. This is likely to roll over to consumer debt, with more credit card issuers hiking rates and freezing or cutting credit lines after the end of year holiday shopping season. Meaning those hoping to use this credit as a method of last resort to keep their lights and heat on may be literally left out in the cold.
This was all before the new $500B student loan bailout that is going to need to be collected from taxpayers as well.
How To Save Your Property & Stay Warm This Winter
Clearly, the chances are high that many property owners are going to find themselves laid off, and with no jobs to find, while juggling far higher bills, with less credit this winter.
It is not a good season to be left sleeping outside, or to have to close down your business before you get that end of year sprint in sales.
There are many expenses you may not be able to control or cut any further. Though you can appeal your property taxes with the help of Property Tax Adjusters, Ltd.
Many Long Islanders could be saving thousands on their annual property tax bills this year. Which can either go a long way to offsetting other expenses, keeping your family comfortable during the holidays, or spoiling them with gifts instead of giving it to the tax man.