10 Reasons to Be Cautious

Settlement Negotiator — Fri, 13 Aug 2010 14:38:43 +0000

5. People still owe way too much money. Households, corporations, states, local governments and, of course, Uncle Sam. It’s the debt, stupid. According to the Federal Reserve, total U.S. debt — even excluding the financial sector — is basically twice what it was 10 years ago: $35 trillion compared to $18 trillion. Households have barely made a dent in their debt burden; it’s fallen a mere 3% from last year’s all-time peak, leaving it twice the level of a decade ago.6. The jobs picture is much worse than they’re telling you. Forget the “official” unemployment rate of 9.5%. Alternative measures? Try this: Just 61% of the adult population, age 20 or over, has any kind of job right now. That’s the lowest since the early 1980s — when many women stayed at home through choice, driving the numbers down. Among men today, it’s 66.9%. Back in the ‘50s, incidentally, that figure was around 85%, though allowances should be made for the higher number of elderly people alive today. And many of those still working right now can only find part-time work, so just 59% of men age 20 or over currently have a full-time job. This is bullish?Today’s bonus question: If a laid-off contractor with two kids, a mortgage and a car loan is working three night shifts a week at his local gas station, how many iPads can he buy for Christmas?7. Housing remains a disaster. Foreclosures rose again last month. Banks took over another 93,000 homes in July, says foreclosure specialist RealtyTrac. That’s a rise of 9% from June and just shy of May’s record. We’re heading for 1 million foreclosures this year, RealtyTrac says. And naturally the ripple effects hurt all those homeowners not in foreclosure, by driving down prices. See deflation No. 4 above.

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New Commercial $$$ to lend

Settlement Negotiator — Wed, 21 Jul 2010 16:09:48 +0000

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Chattel Mortgage » Equipment Leasing

10 Reasons to Be Cautious

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