More than one-in-four Americans who expect a stimulus check plan to spend it on housing, according to a new survey by Crediful.
More than one-in-four Americans who expect a stimulus check plan to spend it on housing, according to a new survey.
Millennials were the most likely to plan to use stimulus checks to cover housing costs, at 31.3%. Only 26.3% of Generation X respondents and 22.8% of Baby Boomers planned to use the money on rent or mortgage payments, according to the study. Unemployment jobless claims hit a new high, for the week ending April 4, reaching 6.6 million. The economic uncertainty during the pandemic led Google searches for “mortgage relief” and “mortgage refinance” to spike in March to an all-time high. Meanwhile, a third of American renters were unable to pay rent at the beginning of April .
“One of the most surprising results was that credit card debt ranked as highly as it did… It could be seen as encouraging that people are considering credit card debt and looking to tackle it, even with finances being volatile right now,” said Morris.
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