Business
The upper class is being strangled
Via Dion Rabouin | Photographs of Dina Litovsky for The Wall Street Journal
Mark Yu had a profitable pandemic. Like many Americanshe added to his savings and made a big profit from stock market rose. He bought a home in his new hometown of McAllen, Texas, then a two-story apartment and an eight-unit apartment complex in Cleveland.
But 2022 is not so good. His expenses have increased because higher gas and grocery costs and dog food for his four German shepherds. The his stock value is shrinking. He is sending more money back to his family in the Philippines to help them cope with the escalating price situation there. A cracked foundation in his new home cost tens of thousands of dollars to repair.