Home Equity

Household Wealth Hits A Record $96.2 Trillion... There Is Just One Catch

In the second quarter of 2017, US household net worth rose by $1.7 trillion, reaching a record $96.2 trillion as the stock market soared and home prices hit new record highs. But while it would be great news if wealth across all of America had indeed risen as much as the Fed claims, the reality is that there is a big catch...

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

The 4 Ways To Access Money For "Harvey" Repairs

The effects of Hurricane Harvey are going to linger for years, likely decades. According to the Consumer Federation of America, approximately 80% of those affected by flood damage do not carry flood insurance protection. If you have suffered damage and do not carry flood insurance or seek proceeds in addition to coverage, here are four options to consider.

Housing Bubble 2.0: Home Equity Loans Soar To Highest Level Since 2008

"If customers feel like their home values are stable or increasing, and if they feel like their job prospects are good—that they will have the ability to pay back a loan they take—then they will start to take out more home-equity lines.  That is what we are starting to see."

Wasserman Schultz IT Staffer Indicted By Grand Jury On 4 Counts

The walls may be closing in on Debbie Wasserman Schultz after her former IT aide, the one who was arrested by the FBI at Dulles airport last month while trying to flee the country to Pakistan via Qatar, has officially been indicted by a grand jury on four counts including bank fraud and making false statements.

The Fed Issues A Warning As Household Debt Hits New All Time High

“While relatively low, credit card delinquency flows climbed notably over the past year. This is occurring within the context of loosening lending standards... The current state can be an early indicator of future trends and we will closely monitor the degree to which this uptick is predictive of further consumer distress.”

Stockman: "We're On The Fast Track To 'Carmageddon'"

"...booming economic growth is exactly what is priced into the still soaring stock market averages. But the Carmageddon story is evidence of the rot which lies beneath today’s mutant economy and lunatic financial bubbles..."

Millennials' Savings Rate Climbs For First Time In A Decade

Despite the aggregate student debt burden eclipsing the $1 trillion mark, and wages pressures across the US economy remaining relatively subdued, a new survey from Bankrate.com claims that Americans’ savings habits are improving for the first time in a decade, with the strongest gains recorded among the 18-26 demographic.