post

Covid-19 poses near-term risk to property sectors in Singapore

Click on Covid-19 poses near-term risk to property sectors in Singapore
for the source.
Author: Ravi Philemon

Covid-19 outbreak poses near-term risk to still-fragile retail market; industrial property sector braves economic headwinds

– Rents are bottoming and supply pipeline is easing but retail property sector remains vulnerable
– Retail property investment sales hit 10-year high in 2019 at SGD4.1 billion
– Warehouse and factory rents remained under pressure while that of business parks rose in the second half of 2019
– Industrial property outlook set to be two-tiered, with business parks and higher specification buildings outperforming older industrial facilities.

Colliers International on Feb 13 published two research reports which examine the market performance of the retail and industrial property sector in the second half of 2019 (H2 2019) and its projections for both sectors in 2020.

Colliers Research notes that both the retail and industrial property markets showed signs of bottoming and will likely continue to stabilise into 2020. However, downside risks persist, and any recovery will likely be marginal, particularly for the retail property market which remains vulnerable.

Retail Based on Colliers’ research, ground-floor rents on Orchard Road inched up by 0.1% half-on-half (HOH) in H2 2019 to SGD40.65 per square foot per month (psf pm), while that of Regional Centres remained flat at SGD33.60 psf pm. For the full-year 2019, rents fell 1.3% year-on-year (YOY) for Orchard and stayed flat for Regional Centres.

covid-19

Covid-19 poses near-term risk to property sectors in Singapore (Image: Wikimedia Commons)

Covid-19 to hurt the retail sector

Ms Tricia Song, Head of Research for Singapore at Colliers International, said, “We expect rents to stabilise and recover gradually as new supply pipeline eases over 2020-2024. Nonetheless, retail sales remain fragile. Excluding motor vehicles, the retail sales declined 1.2% in 2019In the near-term, the outbreak of coronavirus (COVID-19) could dampen consumer sentiment and delay a recovery. The situation is evolving, and no one really knows how this will turn out at this point; the outbreak could be the proverbial black swan that will hurt the retail sector.”

That said, retail tenants typically sign two-year leases where rents are locked in during the period, hence rents do not necessarily mirror retail sales volatility. In the longer term, barring a protracted downturn, Colliers Research believes Orchard Road prime rents are likely to lead a gradual recovery with potential boost from Orchard Road rejuvenation plans, as well as a recovery in visitor arrivals and tourism receipts.

Despite large completions in 2019, island-wide retail vacancy improved to 7.5% as of end-2019, (-1 ppt YOY, -0.2 ppt HOH), driven by higher net absorption which is likely boosted by the good take-up at Jewel at Changi Airport and Funan in H1 2019, and Paya Lebar Quarter Mall in H2 2019. As the market continues to digest the major supply completions in 2019, we expect new supply to ease significantly and stay tight in 2020 (0.3% of total stock versus 10-year historical average of 1.4%) and throughout 2020-2024 (0.5% of total stock).

In H2 2019, investment volumes contracted 6.7% HOH on a high base. Nonetheless, overall retail property transaction volumes hit a decade high in 2019, surging 204% YOY to reach SGD4.1 billion. This was driven by keen investor interest and mergers and acquisitions. Major transactions in 2019 included The Star Vista, Duo Galleria and Liang Court in H2 2019, and Chinatown Point and Rivervale Mall in H1 2019. Meanwhile, 313 Somerset was injected into newly-listed Lendlease Global Commercial REIT, while the merger of OUE Hospitality Trust and OUE Commercial Trust priced Mandarin Gallery at SGD3,908 psf.

Ms. Song added, “Over the next few years, the market remains conducive for deals given a favorable interest rate outlook, limited new supply and bottoming rents. After years of consolidation, test-bedding new concepts, recalibrating tenant-mixes, and rental adjustments, we observed that landlords and tenants appear to be more confident about tackling challenges arising from e-commerce by embracing omni-channel retail strategy and driving innovation. In addition, new brand openings, F&B expansions and the entry of flexible workspace players into retail malls helped to support occupancies.”

Covid-19 and its impact on the industrial market

Singapore’s industrial property market continued to navigate the economic headwinds, remaining soft in H2 2019, particularly in the warehouse and factory space segments. Based on Colliers’ data, average monthly gross rents of factories fell by about 1.8% YOY to SGD1.67 psf pm as at the end of 2019. Meanwhile, warehouse and logistics rents eased by 1.6% YOY from SGD1.25 psf pm to SGD1.23 psf pm at end-2019.

In contrast, rents at business parks climbed by nearly 1.4% YOY from SGD4.31 psf pm at the end of 2018 to SGD4.37 psf pm at the end of last year. Rents of independent high-spec space, meanwhile, increased by about 1.4% YOY to 2.94 psf pm over the same period.

Mr Dominic Peters, Senior Director of Industrial Services at Colliers International, said, “The COVID-19 outbreak could hit manufacturers with disruption to the global supply chain in the near-term. Coupled with ample new stock, factory rents would likely remain under pressure. In general, we forecast continued two-tier performance between older lower-specifications and newer higher-specifications facilities. Centrally-located business parks and high-spec buildings with good amenities should continue to attract healthy demand while those older and further away from MRT stations or in suburban areas could face more pressure.”

Overall, Colliers Research expects business park and high-spec rents to see slight upticks in the coming quarters. Even within business parks, the performance is likely to be two-tiered with the newer ones in the city fringe likely to see healthier demand than the older ones.

Industrial rents for multi-user factories and single-user factories would likely moderate amid the greater supply in 2020. Warehouse rent should remain soft in 2020-2021 amidst global trade uncertainties before recovering from 2022 as supply diminishes. Location and supporting infrastructure could also be differentiating factors for specialised industries such as food factories and data centres.

In terms of vacancies, Colliers Research noted that the overall industrial vacancy rate could edge up in 2020 as net demand lags net supply. Vacancies should decrease from 2021 onwards as demand improves. According to JTC’s data, total net new supply of industrial space is expected to more than double YOY in 2020 to 20.2 million sq ft, or about 4% of total stock, before coming off in 2021. Meanwhile, business park supply is set to intensify from 2023.

Colliers Research expects capital values of prime industrial properties with freehold or long land tenures of 60 years and above to see marginal uptick in the next few years due to their scarcity. While the interest in government’s industrial land sales in 2019 has been subdued, Colliers Research anticipates stronger investment demand for high-spec industrial spaces in 2020. Net yields for industrial properties with short leaseholds of 30 years and below remained flat throughout 2019 at 5.75–6.25% and Colliers Research estimates that this stable trend should hold over the next five years.

The post Covid-19 poses near-term risk to property sectors in Singapore appeared first on iCompareLoan Resources.

How Net Nets Strategy Guarantees Safety of Principal & a Good Chance of a Great Profit

Click on

How Net Nets Strategy Guarantees Safety of Principal & a Good Chance of a Great Profit


for the source.
https://www.drwealth.com/wp-content/uploads/cropped-drwealth-favicon-32×32.jpg Author: Irving Soh

Even before his death in 1976, Graham highly recommended the strategy for small investors, “………I … Read more >>

How do you sleep better at night with factor based investing? We explain with one currently undervalued stock

Click on How do you sleep better at night with factor based investing? We explain with one currently undervalued stock
for the source.
https://www.drwealth.com/wp-content/uploads/cropped-drwealth-favicon-32×32.jpg Author: Irving Soh

If you’re invested, you’ve probably experienced this once or twice. It’s 2am, you wake up … Read more >>

Consumer spending rose modestly in January as clothing store sales fell by the most since 2009

Click on Consumer spending rose modestly in January as clothing store sales fell by the most since 2009
for the source.
Author:

Sales at clothing stores declined by the most since 2009 in January, which could raise concerns about the economy’s ability to continue expanding at a moderate pace.
post

Blockchain powered action in property transaction may be headed here

Click on Blockchain powered action in property transaction may be headed here
for the source.
Author: Ravi Philemon

The Payment Services Act may propel more Blockchain powered action here

By: Phoenix Lee/

Blockchain technology, which first found burst into mainstream as a secure platform for cryptocurrency, is today being extended to transform industry sectors on a holistic ecosystem basis. Healthcare, banking and insurance are just three industries where blockchain technology has found wide acceptance because the technology provides transparency and accountability, which makes them particularly suitable for recording and managing ledgers.

blockchain powered

The Payment Services Act may spawn blockchain powered PropTech action in Singapore

Because it is secure by design, blockchain technology is expected to impact several sectors including healthcare, real estate, legal industry, security, government, education and, charities and aid organisations.

For example, many donors who contribute to the various causes in the charities sector worry if their donation reach their intended beneficiaries. Blockchain technology allow charities to create trust through smart contracts and online reputation management systems which can help donors trust that their money is going to the specified cause.
But besides disrupting industries, can blockchain technology create social impact? How can blockchain create change – what are the factors contributing to its adoption, what are the risks involved and what is the potential in this area for changemakers and the underserved population?

Benefiting the world with blockchain
Blockchain technology, with its transparent, immutable qualities aligns with a nonprofit business model. Using the technology can enable the reduction of global economic inequality, grant people first-time access to the financial system which has largely ignored or exploited them.

Blockchain Against Hunger: Harnessing Technology in Support of Syrian Refugees
U.N.’s World Food Programme is implementing a blockchain based system that allows refugees to get food with an iris scan, instead of relying on cash, credit, or vouchers, all of which can be stolen.

Samsung And South Korean Enterprises Enter The Blockchain powered ID Race
South Korean mobile giant, Samsung teams up with three financial services companies to launch a blockchain-based mobile identification system next year. Through its application, it removes individual consumers’ dependence on a central intermediary to verify their identity and manage their personal data when making online transactions.

Blockchain powered educational revolution
Blockchain technology can disrupt the education sector by providing an avenue to verify certificates, creating a one-stop education profile, getting students ready for exams, and by creating a hyperledger. Japanese electric company, Sony utilized IBM blockchain technology to consolidate an online depository of education records.

The Monetary Authority of Singapore (MAS) on Jan 28, announced the commencement of the Payment Services Act (PS Act). The new PS Act will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and promote confidence in the use of e-payments.

The Payment Services Act may spawn blockchain powered PropTech action in Singapore.

The Payment Services Act may pave the way for blockchain powered PropTech companies like Zweispace to make inroads into Singapore. Zweispace located in Tokyo, Silicon Valley, and Singapore, holds multiple patents around blockchain, started to tokenize the industry specific app utility, starting from real estate and legal professions for inheritance contract. The tokens are on BitcoinSV blockchain.

Zweispace started selling Zweicoin a real estate industry utility token in Japan, the coin can be consumed to run award winning PropTech apps. It can also be held as almost like stable token but most likely appreciating with more stuff coming in. PropTech apps includes, Robot Architect, “AutoCalc” a maximum profitable property planning with AI support, and Earthquake impact assessment app, “Namazu”, developed with experts from a largest construction company. Zweispace is awarded the best PropTech company in 2019, expanding its domain to construction and finance.

Surplus of the money generated by selling Zweicoin is stored in a bank account in Japan, and part of the money will be converted to real estate. The ownership record and rental revenue history will be stored in its patented real estate blockchain system.

Zweispace also announced Zweinote, the real estate backed security type token with a licensed entity, starting from real estate in Tokyo.

Legal profession tokens will be consumable at inheritance advisory system, a legal tech system with expert knowledge for traditional contract generation with cutting edge smart smartcontract capability. Simultaneously, Shintakukeiei.com, a Japanese media about trust legal contract, opened, targeting 7 million elders in aging Japan with 13 trillion-dollar financial assets stored in banks with less than 0.1% interest rate.  Members can receive consultation from member lawyers before legal tech generates trust contract on backend system, along with alternative, next generation Inheritance Smart Contract. Practical smart contracts will be introduced to financial industry starting from Japan.

This system with media site, will accelerate the contracting process, as Japanese government is encouraging regional banks to do so. This inheritance advisory system “Pitashin” was created with the collaboration of Zweispace and Yasuhiro Ogino, a Shiho-shoshi (solicitor), the expert of inheritance contract and legal tech director at Trust System Security Association. The system is powered by Smart Contract System on ZWEICHAIN, a blockchain Zweispace provides. ZWEICHAIN means two chain in German, a pair of private chain and public chain.

For the public chain, Zweispace picked BitcoinSV chain since 2019, the aggressively scaling original bitcoin protocol created and managed by nChain or Satoshi Nakamoto team. The “Legal Token” for this ecosystem, will be tokenized on BitcoinSV chain, same as Zweicoin on BitcoinSV.ispace uses for its system. The conversion rate can be checked at a new utility token site. Zweicoin can be purchased on site and is in talks with multiple exchanges for trading including one already integrated.

The post Blockchain powered action in property transaction may be headed here appeared first on iCompareLoan Resources.

post

Office rents in Southeast Asia remain reasonable

Click on Office rents in Southeast Asia remain reasonable
for the source.
Author: Ravi Philemon

SEA office rents remain reasonable compared to world’s most expensive office markets – Premium office occupancy costs in Singapore rank 14th worldwide, driven by technology firms and traditional banking and finance sectors

SEA Office Rents Rank among World’s Top

SEA office rents

SEA office rents remain reasonable compared to world’s most expensive office markets (Image credit: Pixabay)

Five Southeast Asian cities rank in the world’s top 86 most expensive premium office rental markets, according to the fifth edition of JLL’s Premium Office Rent Tracker (PORT).

In this fifth edition of JLL’s Premium Office Rent Tracker (PORT), JLL compares like-for-like occupation costs across 86 major office markets in 73 cities. PORT comprises the key elements of occupancy costs – net effective rent, service charges and government tax on rent – all standardised to enable true international comparisons. While only a fraction of a city’s corporate base will pay premium rents, PORT provides a useful barometer of relative costs.

The report, which compares occupancy costs for premium office buildings across the world’s leading real estate markets, reveals that Singapore holds the 14th spot worldwide, with net effective rents and occupancy costs running US$117 per year per square foot. That is slightly more than half the premium rents in Hong Kong’s Central district, the most expensive submarket.

KEY HIGHLIGHTS OF SEA OFFICE RENTS

  • Occupancy costs continue to increase for premium offices
    Occupancy costs for premium buildings have continued to rise in major office markets over the past year, despite many markets being in a late-cycle phase. Costs have grown by an average of around 4% in U.S. dollar terms during 2018.
  • Supply is on the rise – but vacancy remains low
    Globally, the supply of premium space is gradually expanding and, while there is now greater occupier choice, premium space is still not in abundance. Among the top office markets, the overall vacancy rate remains in the low single digits – and as tight as 1.5% in Tokyo CBD, 2.7% in Berlin and 3.2% in Beijing.
  • Rental growth set to decelerate in 2019
    Growth in occupation costs is likely to slow down in 2019 as new supply comes through; however, while rental growth is expected to decelerate, there are very few major markets where a downward correction is projected for 2019. In fact, the delivery of new premium buildings will set fresh rental benchmarks in several markets.
  • Affordability is still a concern as corporates look for alternatives
    Affordability continues to be a concern, particularly in the top tier of markets such as Hong Kong, New York and London, although considerable discounts can still be found in other well-located business districts within these cities. More affordable cities are also attracting significant corporate interest, including in Europe (e.g. Amsterdam, Berlin and Warsaw), Southeast Asia (e.g. Ho Chi Minh City and Manila) and select secondary markets in the U.S. (e.g. Dallas and Atlanta).

Financial services drives premium rents
The banking and financial services industry continues to be the main driving force of premium office rents, particularly in the ‘high-end’ and ‘mid-level’ markets. In more affordable ‘value’ markets, legal, technology, professional and business services and retail are playing a more important role.

“Corporate occupiers are seeking to consolidate and streamline their portfolios in strategic locations. There is a growing recognition of the role that real estate plays in talent attraction and retention and innovation and collaboration, as well as the importance of transport connectivity, local amenities and the quality of digital infrastructure.

User experience now has a central role in the design of new office environments. There is a shift towards increased flexibility and choice over how and where employees work, while cutting-edge technologies, such as virtual
and augmented reality, are being integrated. High-quality services, ranging from food and beverage offers to recreation spaces and gyms, are becoming standard features in premium locations, as employee well-being moves to the core of occupier concerns.”

SEA office rents

The office rents in the other five ranked Southeast Asian cities were considerably less expensive as well, including Ho Chi Minh City (38th, $78/sq ft), Jakarta (55th, $60 sq ft), Manila (66th, $54/sq ft), Bangkok (77th, $46/sq ft) and Kuala Lumpur (85th, $30/sq ft).

While the banking, financial industry sectors continue to be the major occupiers of premium office space globally, technology firms – in particular, online platforms – are playing a greater role in propelling demand for premium office space. Based on Singapore Economic Development Board’s statistics, 80 of the top 100 global tech companies, and 4,000 over home-grown and international start-ups from around the world have established their operations in Singapore. These include internet companies Google, Facebook and LinkedIn, new economy firms engaged in e-commerce or online businesses such as Shopee, Razer and Grab, as well as technology hardware manufacturers like Acer, Apple, Dell and Siemens.

SEA Office Rents in Tracked Markets

The average total occupancy costs of the five tracked markets in Southeast Asia are as follows:

Market Total occupancy cost (USD, sq ft/yr)
14 Singapore $117
38 Ho Chi Minh City $78
55 Jakarta $60
66 Manila $54
77 Bangkok $46
85 Kuala Lumpur $30

Chris Archibold, Head of Leasing, JLL Singapore says: “Tech firms have been prioritising Singapore as a key hub due to the government’s supportive policies and the conducive business environment here. The smart nation digitalization plans have also helped to fuel the growth of this sector. Though some of the occupational demand created is going to business park locations, the sector has also been a significant driver of grade A office space due to the need to attract and retain top talent.”

Other SEA Office Rents may Pose Challenge to Singapore

Other gateway cities in Southeast Asia, including Jakarta and Ho Chi Minh City, are now competing with Singapore to become the next Silicon Valley. Specifically, their fast-growing tech start-up ecosystems are diverting some of the attention of venture capital and private equity investors from Singapore. They may eventually challenge Singapore for its position as Asia’s investment and innovation hub.

The post Office rents in Southeast Asia remain reasonable appeared first on iCompareLoan Resources.

post

Fragile retail market braces for near-term risks amid Covid-19 outbreak

Click on Fragile retail market braces for near-term risks amid Covid-19 outbreak
for the source.
Author: Ravi Philemon

Coronavirus outbreak poses near-term risk to still fragile retail market; industrial property sector braves economic headwinds

  • Rents are bottoming and supply pipeline is easing but fragile retail market remains vulnerable
  • Despite fragile retail market, retail property investment sales hit 10-year high in 2019 at SGD4.1 billion
  • Warehouse and factory rents remained under pressure while that of business parks rose in the second half of 2019
  • Industrial property outlook set to be two-tiered, with business parks and higher specification buildings outperforming older industrial facilities

Colliers International on Feb 13 published two research reports which examine the market performance of the fragile retail market and industrial property sector in the second half of 2019 (H2 2019) and its projections for both sectors in 2020.

Colliers Research notes that both the retail and industrial property markets showed signs of bottoming and will likely continue to stabilise into 2020. However, downside risks persist, and any recovery will likely be marginal, particularly for the retail property market which remains vulnerable.

fragile retail market

No breather for fragile retail market despite expectations for rents to stabilise and recover gradually (Image: Wikimedia Commons)

Fragile Retail Market

Based on Colliers’ research, ground-floor rents on Orchard Road inched up by 0.1% half-on-half (HOH) in H2 2019 to SGD40.65 per square foot per month (psf pm), while that of Regional Centres remained flat at SGD33.60 psf pm. For the full-year 2019, rents fell 1.3% year-on-year (YOY) for Orchard and stayed flat for Regional Centres.

Ms Tricia Song, Head of Research for Singapore at Colliers International, said, “We expect rents to stabilise and recover gradually as new supply pipeline eases over 2020-2024. Nonetheless, retail sales remain fragile. Excluding motor vehicles, the retail sales declined 1.2% in 2019. In the near-term, the outbreak of coronavirus (COVID-19) could dampen consumer sentiment and delay a recovery. The situation is evolving, and no one really knows how this will turn out at this point; the outbreak could be the proverbial black swan that will hurt the retail sector.”

That said, retail tenants typically sign two-year leases where rents are locked in during the period, hence rents do not necessarily mirror retail sales volatility. In the longer term, barring a protracted downturn, Colliers Research believes Orchard Road prime rents are likely to lead a gradual recovery with potential boost from Orchard Road rejuvenation plans, as well as a recovery in visitor arrivals and tourism receipts.

Despite large completions in 2019, island-wide retail vacancy improved to 7.5% as of end-2019, (-1 ppt YOY, -0.2 ppt HOH), driven by higher net absorption which is likely boosted by the good take-up at Jewel at Changi Airport and Funan in H1 2019, and Paya Lebar Quarter Mall in H2 2019. As the market continues to digest the major supply completions in 2019, we expect new supply to ease significantly and stay tight in 2020 (0.3% of total stock versus 10-year historical average of 1.4%) and throughout 2020-2024 (0.5% of total stock).

In H2 2019, investment volumes contracted 6.7% HOH on a high base. Nonetheless, overall retail property transaction volumes hit a decade high in 2019, surging 204% YOY to reach SGD4.1 billion. This was driven by keen investor interest and mergers and acquisitions. Major transactions in 2019 included The Star Vista, Duo Galleria and Liang Court in H2 2019, and Chinatown Point and Rivervale Mall in H1 2019. Meanwhile, 313 Somerset was injected into newly-listed Lendlease Global Commercial REIT, while the merger of OUE Hospitality Trust and OUE Commercial Trust priced Mandarin Gallery at SGD3,908 psf.

Ms. Song added, “Over the next few years, the market remains conducive for deals given a favorable interest rate outlook, limited new supply and bottoming rents. After years of consolidation, test-bedding new concepts, recalibrating tenant-mixes, and rental adjustments, we observed that landlords and tenants appear to be more confident about tackling challenges arising from e-commerce by embracing omni-channel retail strategy and driving innovation. In addition, new brand openings, F&B expansions and the entry of flexible workspace players into retail malls helped to support occupancies.”

INDUSTRIAL

Singapore’s industrial property market continued to navigate the economic headwinds, remaining soft in H2 2019, particularly in the warehouse and factory space segments. Based on Colliers’ data, average monthly gross rents of factories fell by about 1.8% YOY to SGD1.67 psf pm as at the end of 2019. Meanwhile, warehouse and logistics rents eased by 1.6% YOY from SGD1.25 psf pm to SGD1.23 psf pm at end-2019.

In contrast, rents at business parks climbed by nearly 1.4% YOY from SGD4.31 psf pm at the end of 2018 to SGD4.37 psf pm at the end of last year. Rents of independent high-spec space, meanwhile, increased by about 1.4% YOY to 2.94 psf pm over the same period.

Dominic Peters, Senior Director of Industrial Services at Colliers International, said, “The COVID-19 outbreak could hit manufacturers with disruption to the global supply chain in the near-term. Coupled with ample new stock, factory rents would likely remain under pressure. In general, we forecast continued two-tier performance between older lower-specifications and newer higher-specifications facilities. Centrally-located business parks and high-spec buildings with good amenities should continue to attract healthy demand while those older and further away from MRT stations or in suburban areas could face more pressure.”

Overall, Colliers Research expects business park and high-spec rents to see slight upticks in the coming quarters. Even within business parks, the performance is likely to be two-tiered with the newer ones in the city fringe likely to see healthier demand than the older ones.

Industrial rents for multi-user factories and single-user factories would likely moderate amid the greater supply in 2020. Warehouse rent should remain soft in 2020-2021 amidst global trade uncertainties before recovering from 2022 as supply diminishes. Location and supporting infrastructure could also be differentiating factors for specialised industries such as food factories and data centres.

In terms of vacancies, Colliers Research noted that the overall industrial vacancy rate could edge up in 2020 as net demand lags net supply. Vacancies should decrease from 2021 onwards as demand improves. According to JTC’s data, total net new supply of industrial space is expected to more than double YOY in 2020 to 20.2 million sq ft, or about 4% of total stock, before coming off in 2021. Meanwhile, business park supply is set to intensify from 2023.

Colliers Research expects capital values of prime industrial properties with freehold or long land tenures of 60 years and above to see marginal uptick in the next few years due to their scarcity. While the interest in government’s industrial land sales in 2019 has been subdued, Colliers Research anticipates stronger investment demand for high-spec industrial spaces in 2020. Net yields for industrial properties with short leaseholds of 30 years and below remained flat throughout 2019 at 5.75–6.25% and Colliers Research estimates that this stable trend should hold over the next five years.

The post Fragile retail market braces for near-term risks amid Covid-19 outbreak appeared first on iCompareLoan Resources.

32% of American workers have medical debt—and over half have defaulted on it

Click on 32% of American workers have medical debt—and over half have defaulted on it
for the source.
Author:

Almost a third of working Americans currently have some kind of outstanding medical debt, with about 28% owing $10,000 or more on their bills, according to a new survey from Salary Finance.