Miami is a global hot spot and compelling attraction for tourists, with its sparkling colors, brilliant weather, dazzling nightlife, world-class cuisine and other singular enticements.
Here’s yet another signal indicator marking the metropolitan area, according to a recent media article: the deep-seated and widespread economic-related fears held by many local residents.
In fact, Miami is centrally cited on a top-10 list of “most stressed out cities, owing to a sizable minority of its populace living below the so-called “poverty line.” Reportedly, too, housing costs across the region are prohibitively high for many people.
That many Miami residents have money-related stresses makes them far from exceptional, of course, given the economic fallout and dislocations that have affected millions of Americans across the country in recent years.
Indeed, money-related thoughts and concerns elicit more stress among Americans all across the country than do any other stressors, including work-related issues and family matters.
That knowledge emerged recently in a survey administered by the American Psychological Association, which states that the outlook of many Americans regarding personal finances is notably pessimistic presently, despite evidence of an improving economy.
In fact, an article discussing the APA report notes that close to 90 percent of the people it polled say that their stress level concerning money “has either remained the same or gotten worse in the last year.”
There are many reasons for that, of course. The economy hasn’t regained firm traction for everybody. Medical costs continue to be appallingly expensive for millions of people. Job losses continue to be suffered, and in some areas — notably Miami — foreclosure problems continue to persist.
Much is in flux as the economy moves forward in the early years of a new century. For many people, money-related stress is part and parcel of that economic evolution.
Source: CNN Money, “Money issues are still really stressing Americans out,” Melanie Hicken, Feb. 4, 2015