Posts Tagged ‘economic recovery’

Are Home Equity Loans Staged for a Comeback?

Posted on November 15, 2017 by Laura Lam

There has been a hint of optimism for home equity lending among bankers this earnings season, but attitudes remain mixed a decade after the housing market crash began.  While home equity lines of credit provided a lift to some bank consumer portfolios, a number of other banks said their home equity businesses had fallen and added little about their future. Industry observers say bankers should take the long view. Home equity lines of credit especially are poised to grow now that home values have been rising for a number of years during the economic recovery.  “If you think about the…

Years After the Recession, Many Still Struggle

Posted on September 18, 2013 by Saldutti

Four years after the recession officially ended, many Americans are still struggling to recover financially with lower incomes and, in some cases, going hungry, according to two recent surveys that underscored the unevenness of the U.S. economic recovery. According to a recent Gallup poll, 20% of U.S. adults said that at times in the past year they did not have enough money to buy food for themselves or their families. That’s nearly as many hungry Americans as in 2008, when the nation was submerged in its deepest economic slump since the Great Depression nearly 80 years earlier. “These findings suggest…

Only 3 Major U.S. Cities Have Recovered From Recession

Posted on December 03, 2012 by Saldutti

Everybody knows the US economy has been struggling since the recession ended in 2009. But just how bad are things? Of the United States’ 76 major metropolitan areas, just three are in economic recovery now, according to a new study by the Brookings Institution.  That may seem terrible, but it’s up from last year, when zero were classified as in recovery. All three cities – Knoxville, Tennessee; Dallas, Texas; and Pittsburgh, Pennsylvania – have strong local service industries as well as banking and finance institutions that cater to certain industries. All three cities experienced major recessions –  which the report defines as…

Happy 2nd Anniversary, Economic Recovery

Posted on July 07, 2011 by Saldutti

This is one anniversary few feel like celebrating.  Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.  After previous recessions, people in all income groups tended to benefit. This time, ordinary Americans are struggling with job insecurity, too much debt and pay raises that haven’t kept up with prices at the grocery store and gas station. The economy’s eager gains are going mostly to the wealthiest. Workers’ wages and benefits make up 57.5 % of the economy, an all-time low. Until the mid-2000s, that figure had…

Facts To Consider Before Buying a Home

Posted on May 03, 2011 by Saldutti

Has the U.S. housing market reached a “bottom” yet?  Are home prices going to start recovering?  Is the housing crisis going to end at some point?  Today there are millions of American families that would like to buy homes but are not sure what to do.  After all, nobody wants to end up like the poor souls who bought at the top of the market and now owe far more on their mortgages then their homes are worth.  People are also afraid to take out home loans right now.  So should you buy a home in 2011?  The reality is that there are a…

Sign of the Times: Economic Decline

Posted on April 26, 2011 by Saldutti

The United States is in the middle of a devastating long-term economic decline and it is getting really hard to deny it.  Until we understand exactly how bad our problems are we will never be willing to accept the solutions.  The truth is that our leaders have absolutely wrecked the greatest economic machine that the world has ever seen. Most Americans just assume that we will always experience overwhelming prosperity, but that is not anywhere close to the truth.  We are not guaranteed anything.  Our manufacturing base has been gutted, the number of jobs is declining, more Americans are dependent…

Shocking New Economic Records Set in 2010

Posted on March 01, 2011 by Saldutti

010 will be remembered for a lot of things, but for those living in the United States, one of the main things that last year will be remembered for is economic decline.  The number of foreclosure filings set a new record, the number of home repossessions set a new record, the number of bankruptcies went up again, U.S. government debt reached record highs, and the list goes on.  In fact, even many of the “good” economic records that were set during 2010 were indications of underlying economic weakness.  For example, the price of gold set an all-time record during 2010,…