And the growth of home prices is outpacing that of incomes. Plus, amid rising COVID-19 cases, still no progress on more federal aid. And, eight months into the pandemic in the U.S., the coronavirus is now hitting rural communities hard.
Complicating all of this is the fact that there’s still so much uncertainty about how the federal government might act. Christopher Low, chief economist at FHN Financial, says “both sides are kind of calcifying into very different positions on what should be done.” Plus, the improvement in the labor market is slowing, Low said, and he’s fearful that will see “much more severe limitations on economic activity than what’s in place now.”
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