Before the financial meltdown of 2008, a handful of prophets raised warnings. Most people didn't listen. Why? Because most people have a hard time seeing outside the bubble of the present moment.
Weak housing numbers released this week have some analysts worried that the housing recovery is losing momentum. Personal income lags, durable goods fall, and Dunkin' Donuts gets in hot water for a 'blackface' ad campaign in Thailand.
New home sales fell a whopping 13.4 percent in July, an unexpected drop that has darkened the sunny outlook for the US housing recovery. Climbing mortgage rates and higher prices could be to blame.
Nationally, home prices increased 0.65 percent in June and 7.48 percent above the level seen in June 2012.
Existing home sales leaped 6.5 percent in July, their highest level since last 2009 when a tax credit artificially boosted sales. But some analysts worry that rising interest rates and continuing low inventory could put a damper on existing home sales in the coming months.
Not everyone can take out a mortgage to buy a home, but the American dream is still attainable for the vast majority of Americans, Hamm says. How do you get your finances into good enough shape to buy a house? Hamm walks readers through the road to homeownership.
It depends on a number of factors — your credit history, your insurance, the area you're looking at. Hamm says renting is not a throwaway.
As home values have declined, retail spending — which increased 0.2 percent from June — has remained low.