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Worst Mortgage Stats since the Great Depression

7/22/2007, 3:45 pm

Another “not since the Great Depression”-type comment appeared in the Washington Post. “Personal Finance: Mortgage mess? Mop it up,” an article about the “troubles in mortgageland,” reports troublesome foreclosure and delinquency stats from the first quarter of 2007 and then states, “those are the worst mortgage default statistics since the Great Depression.”

The article quotes Keith Gumbinger of HSH Associates, but failed to include a link to the HSH Associates website. There it was.

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Category: Economic Data and Statistics | Comment

Income 12 Percent Less Than Your Father’s Generation

6/25/2007, 8:13 am

It’s a long held belief that each generation in the United States will do better financially than the one before. A new report, Economic Mobility: Is the American Dream Alive and Well?, from the Economic Mobility Project suggests this may not be true.

If you’re in your thirties and it seems to you as if your income is less than your father’s was when he was in his thirties, there’s a reason. Your income is, on average, 12 percent less than what your fathers’ generation of men earned when they were in their thirties. Doesn’t seem quite right, does it?

This finding is from from a report released by the Economic Mobility Project which is an initiative of The Pew Charitable Trust. The Economic Mobility Project is conducted by a bipartisan group of experts from The American Enterprise Institute, The Brookings Institution, The Heritage Foundation and The Urban Institute. The goal of the project is to find out if economic mobility in the United States is alive and well. Read the report to get the big picture.

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