Default rates on first and second mortgages appear to be dropping. According to data released from S&P Indices and Experian, those rates decreased in June by a fraction of a percent. Auto loan defaults fell from 1.34% in May to 1.29% in June. Bank cards saw the biggest drop, falling from 5.93% to … [Read more...]
Gas Prices Leave Consumer Confidence Running on Empty
April 29, 2011 By Leave a Comment
Consumer confidence is dropping thanks to rising gas prices. According to AAA, on average a gallon of gas costs $3.89 which is nearly 30 cents higher than a month ago and more than a dollar up compared to April of 2010. That's pushing a larger percentage of consumers' budgets toward the pump which means … [Read more...]
Lower Consumer Spending May Reflect New Habits
September 24, 2010 By Leave a Comment
For the first time since the Great Depression in the 1930s, per capita consumer spending has declined for 2 consecutive years. A new study completed by Booz & Co. showed that consumers are spending less during the recession. The question is whether this reduced spending level is temporary or reflects … [Read more...]
Not All Foreclosures Are Due to Economy
April 21, 2010 By Leave a Comment
It is easy in the current economy to assume that most consumer foreclosures on personal residences are due to the economy. Unemployment is high and even household where lay-offs have not hit are operating with less income due to reduced schedules and forced days off without pay. The reality is that … [Read more...]
What’s The Shelf Life For The Frugal American Consumer?
May 20, 2009 By Leave a Comment
As the scope of the economic crisis spread, more people realized that they were overextended financially. As a result, American consumers have responded quickly, altering their place in the economy, seemingly overnight. There are now far more "savers" than "spenders." … [Read more...]