New data from Vanguard shows that Americans are pulling a record amount of money from their retirement accounts to pay their bills. Most notably - the share of customers making an emergency hardship withdrawal from their 401k spiked to 3.6% in 2023 - the highest rate on record.

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More alarmingly - 40% of those making a hardship withdrawal did so to avoid foreclosure. Indicating that many homeowners are on the verge of having to sell their houses because they can't pay the bills. This is a concerning for the US Housing Market and suggests many homeowners will be forced to sell their houses because they can't pay their bills.

Especially in real estate markets like Florida and Texas, where there is already a massive spike in new listings and inventory underway. Many of these listings in these states, particularly in cities like Austin, Dallas, Cape Coral, and Fort Lauderdale, are coming in the affordable price point range: from $200k - $350k.
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