American Homeownership Took a Dive Post-Recession

Mortgages

American Homeownership Took a Dive Post-Recession

American Homeownership Took a Dive Post-Recession

Median home values took a hit across the U.S. following the recession, particularly in the most populated areas of the country. In fact, only four of the 50 least populous counties saw significant slides in median home values in the years following the recession, compared to 43 of the 50 most populated counties that experienced… Read More

The Great Recession Didn’t Derail the Top 1%

Personal Finance

The Great Recession Didn’t Derail the Top 1%

The Great Recession Didn’t Derail the Top 1%

America’s top earners, aka the 1%, absorbed 95% of the income gains made during the first three years of recovery from the Great Recession. Though that group also saw the greatest loss in income during the recession (a 36.3% decline), it has nearly recovered, according to a study out of the University of California-Berkeley. With… Read More

Households Lost Average of $50K-$120K in Great Recession

Personal Finance

Households Lost Average of $50K-$120K in Great Recession

Households Lost Average of $50K-$120K in Great Recession

As a result of the Great Recession, the average American household will have lost between $50,000 and $120,000 in earning potential, according to a letter from the Federal Reserve Bank of Dallas. Those figures assume that the country’s economic output eventually returns to its pre-recession trend path. The estimated loss nationwide is between $6 trillion and… Read More

How Credit Scoring Has Changed Since the Recession

Credit Score

How Credit Scoring Has Changed Since the Recession

How Credit Scoring Has Changed Since the Recession

A consumer’s payment history, credit utilization ratio and depth of credit have always a significant impact on credit scores, but for some types of credit scores, the scale of that impact has changed considerably in the years following the Great Recession. In 2009, immediately after the recession, recent credit contribution carried the most weight in the… Read More

Americans Have Cut $1.3 Trillion in Debt Since Recession

Managing Debt

Americans Have Cut $1.3 Trillion in Debt Since Recession

Americans Have Cut $1.3 Trillion in Debt Since Recession

Numerous studies and statistics have shown that consumers’ attitudes toward debt changed significantly since the Great Recession, and now new data shows just how substantial those shifts have been when it comes to cutting balances. Since the end of the financial crisis in 2009, households across the country have been able to reduce their outstanding… Read More

Recession Still on Minds of Many Consumers

Personal Finance

Recession Still on Minds of Many Consumers

Recession Still on Minds of Many Consumers

While consumer sentiment is on its way to returning to pre-recession levels, it seems a number of people across the U.S. are still wary about spending, including credit card use. According to a report by McClatchy Newspapers, spending among consumers has made great strides in the last few months, with evidence found in higher car… Read More

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