The housing market’s sky-high mortgage rates have been a problem for a while. But now, with supply on the rise, it’s sellers, not buyers, who could be in trouble. To make matters worse, more and more houses in the US are worth significantly less than the mortgages financing them.

The stock market’s been relatively strong, but there are some caveats. We have to thank AI for a good chunk of that. And considering the healthy amount of exaggerating companies have done to get on the AI bandwagon, it’s easy to see how it could all come crashing down.

Ok, but jobs are still good, right? The unemployment rate is incredibly low!

Yes and no. Job growth slowed a lot in April, and it’s hard for certain demographics, like high earners, to switch jobs.

Well, at least interest-rate cuts will provide some relief!

So… about that.

The number of companies filing for bankruptcy is spiking, cuts continue to get delayed. In fact, some experts speculate the economy will need to crash before cuts come.