Econ70
In yet another sign the housing market is strengthening, the number of distressed sales (foreclosures and short sales) has declined dramatically. Moreover, short sales now generally outnumber foreclosures in most cities, a far cry from the situation just last year.…
Read MoreWith the mortgage refinancing wave largely over, mortgage originations will decline considerably in 2013, perhaps by as much as 50%. That said, home equity lines of credit will become increasingly popular as homeowners struggle to extract cash from their homes,…
Read MoreIn 1934, individual income taxes were 14% of tax receipts, today they’re 47%. Similarly, social insurance and retirement receipts were just 1% but are 35% today. By contrast, corporate income taxes were just 12% in 1934, reached a high of…
Read MoreThe Friday File: On 12/5/12, jazz great Dave Brubeck died at age 91 and on 2/27/13 Harvey Lavan Cliburn, Jr. known best as Van Cliburn passed at age 78. Brubeck’s 1959 album “Time Out” was the first jazz album to…
Read MoreLast week automakers reported sales of 15.3 million, up from a low of 9.0 million in February 2009. The rise is due in part to ultra-low interest rates, but also to both a rapidly aging fleet and longer loan terms.…
Read MoreThe recent $13 billion bailout (60% of GDP) made by the IMF, ECB, and European Commission to Cyprus does not solve problems, it just delays them. With a post bailout debt-to-GDP burden of 140%, an economy that will shrink 20%…
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