Archive for August 18th, 2010

Bankruptcies Increase to Highest Level since 2005

Bankruptcies Increase to Highest Level since 2005

| August 18, 2010

The US government reported that there were 422,061 bankruptcy filings during the second quarter of 2010, an increase of 9% from the 388,148 that were filed during the first quarter. For the year ended June 30, filings increased 20% to 1.57 million from 1.31 million the year before. “We know the causes of bankruptcy are [...]

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Total Household Debt Continues to Decline

Total Household Debt Continues to Decline

| August 18, 2010

The New York Federal Reserve released its quarterly report on total household debt, showing a decrease of 1.5% to $11.7 trillion in June from $11.9 trillion in March. Total debt has been steadily declining since 2008 as households have gradually deleveraged following the global financial crisis. “Aggregate consumer debt continued to decline in the second [...]

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Existing Home Sales Likely Plunged in July

Existing Home Sales Likely Plunged in July

| August 18, 2010

The existing home sales report for July will be released early next week, but regional data clearly indicates that there was a sharp decline last month in the wake of the home buyer tax credit expiration. For example, DataQuick reported a large decrease in southern California. “Southland home sales saw their biggest year-over-year drop in [...]

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Short-term Forecast for August 18, 2010

Short-term Forecast for August 18, 2010

| August 18, 2010

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