August 16, 2014
THE SAVINGEST PEOPLE EVER:
U.S. Household Debt Sinks, in Tale of Two Borrowers (ALAN ZIBEL, Aug. 14, 2014, WSJ)
Total outstanding household debt--including mortgages, home-equity loans, credit cards, auto loans and student loans--sank $18 billion between April and June to $11.63 trillion, according to a report released Thursday by the Federal Reserve Bank of New York. [...]Meanwhile, more Americans are making loan payments on time. The share of Americans' debt that was seriously overdue fell to 4.5%, the lowest level since the start of 2008.
Household Wealth in U.S. Increases as Home Values Appreciate (Michelle Jamrisko, Jun 5, 2014, Bloomberg)
Household wealth in the U.S. climbed in the first quarter, helped by labor market improvement and gains in the stock and residential real estate markets that are giving balance sheets a lift.Net worth for households and non-profit groups increased by $1.49 trillion from January through March, or 1.9 percent from the previous three months, to $81.8 trillion, the Federal Reserve said today from Washington in its flow of funds report.
Posted by Orrin Judd at August 16, 2014 7:03 AM