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Record Household Debt, Jump In Delinquencies Signal “Worsening Financial Distress”, Fed Warns
Record Household Debt, Jump In Delinquencies Signal “Worsening Financial Distress”, Fed Warns While the market remains focused on tomorrow’s CPI print, and to a lesser extent the April retail sales reports, which will both be released at 8:30am on May 15. we should flag another important report that doesn’t typically get a lot of attention: […]
Precarious: One Misfortune Away from Insolvency
Precarious: One Misfortune Away from Insolvency As a result, a significant percentage of households that are considered middle-class are one misfortune away from insolvency. We can summarize the changes in our economy over the past two generations with one word: precarity, as life for the bottom 90% of American households has become far more precarious over […]
Canadian Household Debt-to-Income Ratio Near Record High
Canadian Household Debt-to-Income Ratio Near Record High “Households with elevated levels of debt are more vulnerable to increases in interest rates”, the Canada Mortgage and Housing Corporation redundantly observes in its latest bulletin and warns that “with interest rates on the rise, highly indebted households could see their increased required payments exceed their budgets.” Naturally, […]
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Bank
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Bank “The authorities should prepare contingency plans.” The big four banks are too exposed to mortgages. Even if the banks don’t topple, the economy will get hit hard. In its latest report on Australia, the OECD focuses to a […]
US Household Debt Hits Record $13.5 Trillion As Delinquencies Hit 6 Year High
US Household Debt Hits Record $13.5 Trillion As Delinquencies Hit 6 Year High Total household debt hit a new record high, rising by $219 billion (1.6%) to $13.512 trillion in Q3 of 2018, according to the NY Fed’s latest household debt report, the biggest jump since 2016. It was also the 17th consecutive quarter with […]
Home Affordability: Canada vs. US
Home Affordability: Canada vs. US Homes are unaffordable in the US, but the situation is far worse in Canada. Point2homes has an interesting set of charts on Home Affordability In Canada vs the US. Key Findings The average Canadian has to dish out a whopping 56% more to buy a home, or 25% more to […]
Chart Of The Day: Australia’s Record Household Debt Is A Ticking Time Bomb
Chart Of The Day: Australia’s Record Household Debt Is A Ticking Time Bomb The Australian household debt to income ratio has ballooned to shocking levels over the past three decades as Sydney is ranked as one of the most overvalued cities in the world. According to the Daily Mail Australia, credit card bills, home mortgages, and personal […]
BoC: 8% Of Canadian Households Owe More Than 20% Of The $2.1 Trillion In Debt
BoC: 8% Of Canadian Households Owe More Than 20% Of The $2.1 Trillion In Debt Canadian real estate debt hit a new high, and the news gets worse as they explain it further. The Bank of Canada (BoC) updated household debt numbers for March. In a speech this week, BoC’s Governor Stephen Poloz also gave […]
“Canada Is In Serious Trouble” Again, And This Time It’s For Real
“Canada Is In Serious Trouble” Again, And This Time It’s For Real Some time ago, Deutsche Bank’s chief international economist, Torsten Slok, presented several charts which showed that “Canada is in serious trouble” mostly as a result of its overreliance on its frothy, bubbly housing sector, but also due to the fact that unlike the […]
Oh Canada! Canadians Starting To Feel The Pain of Debt.
Oh Canada! Canadians Starting To Feel The Pain of Debt. Many Canadians are facing the consequences of spiraling debt. The Bank of Canada has increased its key interest rate three times since last summer, prompting some of Canada’s larger banks to raise their prime lending rates. Forty-seven percent of Canadians are feeling the pinch, indicating they […]
Consumers In Surprising Places Are Borrowing Like Crazy
Consumers In Surprising Places Are Borrowing Like Crazy The Money Bubble is inflating at different speeds in different places. But apparently no culture is immune: Household Debt Sees Quiet Boom Across the Globe (Wall Street Journal) – A decade after the global financial crisis, household debts are considered by many to be a problem of […]
Debt on Track to Destroy The American Middle Class
Debt on Track to Destroy The American Middle Class Economists report the household debt to be at its highest in decades. Yet, at the same time, we are being told that the economy is doing great. Does anyone see a serious contradiction? In fact, the current economy only favors the wealthy owing to their flourishing […]
Household Debt Rises By $572 Billion, Ends 2017 At All Time High
Household Debt Rises By $572 Billion, Ends 2017 At All Time High After we first reported last week that US credit card, student and auto debt all hit record highs in December of 2017… … it should not come as a surprise that according to the just released latest quarterly household debt and credit report […]
Canada Home Values Hit “First Quarterly Decline since Q1 2009” as Household Debt Binge Hits New High
Canada Home Values Hit “First Quarterly Decline since Q1 2009” as Household Debt Binge Hits New High How exposed are over-indebted household to rising interest rates? Household debt in Canada rose to a new record of C$2.11 trillion in the third quarter 2017, up 5.2% from a year ago and up 10.7% from two years […]
Why Doesn’t This Household Debt Worry Anyone?!
Why Doesn’t This Household Debt Worry Anyone?! With all the attention going to political tensions between the USA and North Korea and the interest rate policies and monetary policies established by the various central banks around the world, we would almost forget to keep track of how the ‘real’ economy is doing. And then we […]
