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Good News On Retail Front For Holidays

Holiday sales over the 2010 season were up more than 4% from last year to approximately $525 billion, as per estimates from the National Retail Federation. And online sales had even more impressive gains with $36 billion in sales for this year alone, which is up 15.4% over last year. Yet even with the increase in spending over the holidays, in the past two years the savings rate of American’s has increased from a low of 1% to nearly 6%. So it all goes to prove that even though the economy may be global, it really is just personal, meaning ...
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Halt On Foreclosures Will Hold Up The Market Further

The nationwide halt on foreclosures by Bank of America, along with other banks that are considering the same thing will most likely slow up the real estate market even more. The problem lies in the many foreclosures that are currently and soon to be on the market. If there is any type of “mortgage fraud” it could feasibly cloud the titles of the homes thereby making a transfer of title in a sale much more difficult. But of course, there is title insurance. That ought to cover it right? Well, you must remember that even title insurance is still ...
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Credit Card Debt Has Drastically Increased

Sorry to say, through the years, increasing numbers of people have become victims of enormous credit card debts they will probably never receive money off. It’s a shame to understand that so many people feel they NEED so many things but realize the only way that they could possibly get those things is to apply their charge cards, and they normally have plenty of them to select from! Credit card debt has grown drastically through the past many years and it does not seem like many people are yet realizing just how bad this issue is. If you are ...
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Real Estate Recovery Being Held Hostage By Credit Scores

Nearly a third of all Americans are unable to secure a mortgage in these challenging times. According to the real estate website, Zillow, people with credit scores below 620 were unable to secure mortgage financing even when they had a solid source of income and offered a down payment of 15-25%. According to myFICO.com as many as 29% of all Americans have a credit score that low. While banks are being more careful in the wake of the mortgage crisis, this is seriously stopping the recovery of real estate across the nation. According to myFICO.com ...
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Simple Credit- A Worthy Goal

Last week, President Obama tapped Elizabeth Warren to set up the Federal Government’ new Consumer Financial Protection Agency. And she has a big job ahead of her. But she has expressed that a high priority on her list is to make credit simple. Understandable. Reasonable. Like, for example, a credit card agreement that is only one to two pages long and written in laymen’s terms. Yes. That would work. That would be nice. Make the agreement clear and easy to understand…..and difficult to hide tricks and deceptions! See more about Warren’s top ...
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Student Loan Debts Overtake Credit Cards

For years the credit card debt in the United States trumped all. All other types of debts, that is. Meaning that credit card debt was higher than any other types of debt for the majority of Americans. But recently another type of debt has become the largest debt. Student loan debt has now exceeded the debt of credit cards. This is based partially upon the fact that fewer people responded to fewer credit card invitations in the past year with the economy and the new CARD act. Also, jobs are scarcer and more and more students are applying for student ...
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It’s Labor Day—What Kind Of Capitalism Do You Support?

Today is Labor Day and unfortunately this year many American’s are without a job. Unemployment is at record levels and the economy is in the tank, so to speak. It is reminiscent of the times of FDR and the Great Depression. At that time FDR worked to help all American’s by implementing such things as Medicare, unemployment benefits and more. And his critics called him a “Socialist”. Hmm, that word sounds very familiar if you ever read the comments on any political story and if you ever listen to the hat..….oh, I mean if you ever ...
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Sales Of Previously Occupied Homes Lowest In 15 Years

July 2010 statistics on home sales or previously owned homes fell by more than 27 percent to a seasonally adjusted 3.83 million, the National Association of Realtors reported on Tuesday. This represented the largest monthly drop on record, dating back to 1968 and it also included every region of the country. This followed the expiration of the tax credit, which accounted for a relatively robust spring selling season. The inventory of homes on the market that remain unsold hit about 4 million in July. This makes a 12.5 month supply when ...
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