Feb 12 2009

Monthly Foreclosures and the Dreaded Road Ahead: On Path to another 3,000,000+ Foreclosures for 2009. 1 out of Every 173 Homes Received a Foreclosure Filing in California. 8,800 Foreclosure Filings a Day in the United States.

Foreclosures filings in past economic downturns were usually driven by job losses or contractions in the economy.  In our current recession we had an interesting dynamic in that many foreclosures were caused by the actual mortgages given to borrowers.  This of course spurred the housing bubble but more importantly, positioned a double whammy for our […]

Feb 10 2009

Can You Live on $60,000 a Year in California? Yes You Can!

California is facing some troubling times.  It has one of the highest unemployment rates at 9.3% and families are trying to figure out ways to stretch their dollar as far as it can go.  Now I thought in the middle of all the troubling news out there, I would offer a post that examines how […]

Feb 7 2009

Bank Charge-off Rate Highest Since 1992 for Commercial Banks: Credit Cards, Revolving Debt, and the Contraction of Credit.

Charge-off rates are now at a 17 year high since commercial banks are writing off real estate loans, consumer loans, leases, agricultural loans, and other construction loans.  The FDIC is going to be bombarded with hundreds of bank failures in the upcoming years simply because their balance sheet does not have the ability to support […]

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Feb 5 2009

Government Employment and Bankrupt City: Federal and State Government were Last Secure Employment Sectors. Financial and Economic Contraction.

States across the country are facing unprecedented budget shortfalls.  A total of 44 states face budget shortfalls, which for all practical purposes puts the entire country in a uniform crisis.  The state of California is in a state of fiscal panic.  Currently the state faces a $42 billion budget deficit and the State Controller has […]

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