Posts filed under “Credit”
About this month’s Cash Shiller:
The Home Price Index showed prices continued to increase. The National Index grew 7.1% in Q2, and 10.1% over the past year. The 10-City and 20-City Composites posted returns of 2.2% for June and 11.9% and 12.1% over 12 months. All 20 cities posted gains on a monthly and annual basis
Note the mortgages that fund these homes were likely locked in at rates that considerably lower than today. They pre-dated the large interest rate spike of the summer. Its reasonable to assume these rate hikes will impact sales and prices going forward.
Source: S&P Case Shiller Index
Note: This was first published 6 years ago. I thought it was prescient enough, and mostly right, to bring to your attention again. Who should we blame for the problems in the credit markets? This week in Outside the Box my good friend Barry Ritholtz takes on the task of pointing his prodigious finger…Read More
click for ginormous graphic Source: WSJ I love this giant graphic from this morning’s WSJ — it gives us the 30,000 foot view of consumer debt here in the USA. Despite low rates — or is it because of them? — American consumers have seen their debt loads fall to the lowest levels…Read More
This is what is meant by the Soft Prejudice of Low Expectations: America’s declining, and improving, debt picture Source: Marketwatch
Objectors’ Siren Song Enchants During Article 77 Proceeding Isaac Gradman Subprime Shakeout, July 29, 2013 We are 20 days into the monumental bench trial over Bank of America’s proposed $8.5 billion settlement of Countrywide MBS claims, and with the proceedings now taking a break until September 9, we have a chance to sit…Read More
What date are your bills due on? That is a simple question. I would surmise on any bill you receive — whether its electronic or in the mail — there is a clear date the bill is due. This is important for many American consumers and small businesses, who are balancing their cash flow, trying…Read More
This year’s essay focuses on the need to rebuild household balance sheets in the wake of the financial crisis, a need that is important not only for families but for the economy overall. The co-authors are the director and chief economist for the St. Louis Fed’s new Center for Household Financial Stability.