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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFlorida is now the 2nd most financially distressed state in the US -- topped only by Texas, Google helps reveal
Theyre 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.
https://finance.yahoo.com/news/florida-now-2nd-most-financially-164500255.html
Florida leads nation in financially distressed credit accounts, study finds
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.
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
(67,779 posts)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
(36,756 posts)The day they voted for.
Baitball Blogger
(50,833 posts)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
(720 posts)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
(67,779 posts)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
(37,045 posts)Simeon Salus
(1,522 posts)In The Big Short, one set of observations is that Florida b MAD CRAZY.
allegorical oracle
(5,635 posts)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
(15,805 posts)mitch96
(15,437 posts)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
(67,779 posts)It's rather confusing.
mitch96
(15,437 posts)yardwork
(67,779 posts)It's about people who have gotten into debt and are behind on payments.