Personal Finance

Financial News Roundup: Rental Market Booming, Facebook To Offer Deals

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Strategic defaulters carry good credit, according to a new survey.Strength of REITs Indicates Housing Market Struggle
CNN Money

CNN Money reports that a number of apartment real estate investment trusts and storage businesses are leading the way in the stock market, indicating more consumers are choosing to rent rather than buy. This trend may last for some time, as the troubling housing market has many individuals nervous about committing a large amount of their finances to purchasing a home.

Class of 2011 Entering Strong Job Market

According to the National Association of College and Employers, improvements in finance, energy and technology are paving the way for the best job market for new graduates since the 2008 economic downturn. Bloomberg reports that Edwin Koc, the head of the NACE, says a number of companies have vacancies that they hope the 1.61 million graduating students of 2011 will be able to fill.

Facebook Deals To Boost Media Giant’s Digital Economy
CNN Money

Facebook recently launched its Deals offering in five select cities – a new arm of the social media giant that is expected to boost revenue. Users will be able to purchase deals using Facebook credits, a credit card or Pay Pal, marking the first time the company’s digital currency will be applicable to purchase real-world items. With more than 500 million active Facebook users, the company’s currency system is expected to handle about $600 million from July 2011 to 2012, according to Social Times Pro.

Strategic Defaulters Carry Good Credit Scores

A number of homeowners have considered walking away from their home loans because the value of their property is worth less than the amount remaining on their mortgage. This approach, known as a strategic default, has received tremendous criticism because of its moral implications. According to, new evidence indicates individuals who use this strategy are fairly responsible when it comes to other areas of their finances; most have a credit score higher than 620, with more than 20 percent carrying a score of at least 740.

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