Bankruptcy filings reflect a weak economy – 9 percent jump in bankruptcy filing in last month of data. Bankruptcy map shows Nevada and South have highest filing rates per capita. $79,000 income and $11 million in debt?
Bankruptcies are still plaguing this country and show deeper strain in the fabric of the economy. Average Americans are still very much dealing with the challenges of a deep and profound recession. Filing for bankruptcy is usually the end of the financial line for many Americans. Yet in the last month of data for March […]
The great American debt purge – Americans more stressed out about debt. Mortgage, credit card, student loan, and auto loan debt up to $13.5 trillion. Average debt per household at over $120,000.
Every man, woman, and child would owe an average of $43,000 if we divided up mortgage, credit card, student, and auto debt in the United States. Of course, this is based on the current population of 309 million. But we know this isn’t exactly accurate since an infant really didn’t charge up a credit card […]
The ambiguous financial state of housing – 3 issues repeating the housing bubble mistakes; Real estate psychology, down payments required, and bring back lending responsibility to immediate areas.
The overwhelming evidence of what went wrong to create the housing bubble is irrefutable. It is clear that allowing buyers to purchase a home with little to no documentation was a bad idea. So why continue doing this today? It was abundantly obvious that zero down or low down mortgages was a recipe for disaster. […]
Middle class getting pushed into poverty and working poor status – The cloaked recovery for the middle class. How 30 percent of the poor are unemployed.
Over 6.5 million of the 15 million unemployed Americans have been out of work for 27 weeks or more. As a percent, this is the highest number of long-term unemployed we have had since the Great Depression. What is not discussed in this recession is the working poor and middle class have taken on the […]