The Pre-Recession Housing Problem That’s About to Slam Homeowners

Mortgages

The Pre-Recession Housing Problem That’s About to Slam Homeowners

The Pre-Recession Housing Problem That’s About to Slam Homeowners

The home equity line of credit (HELOC) had been around for many years before it became a hugely popular financial product in the early 2000s. When the financial crisis happened in 2008, drastically lower home valuations put a stop to the HELOC boom, and today we see far fewer being issued by lending institutions. However,… Read More

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

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