About Me 0082: foreclosure list

Washington (CNN) – It is not enough to say the economy is "struggling," "hurting," "sluggish" or "slow."

In this week's American Sauce, we nail down the specifics on our economic health: income, spending, GDP and jobs (now and future). And we look at a core problem, still: housing. We'll introduce you to a woman who's part of the next large group to face foreclosure (conventional loans on moderate homes). She personally demonstrates that all that talk of loan modifications has led to a tangled system of obstacles.

Click here to listen, or keep reading for a quick, bulleted list.

American Sauce's economic check-up:

* Personal bankruptcies: 1.5 million individuals applied for bankruptcy in the year between Sept. 2009 and Sept. 2010. That was a nearly 14 percent increase from the year before.

* Business bankruptcies: 58,322 businesses applied for bankruptcy in that time. Notably, that was a slight decrease of less than 1 percent from the year before.

* Bankruptcy stats: Look through them for yourself at http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx

* Unemployment rate: 9.8 percent in November, up from 9.6 percent in October.

* Those on unemployment rolls: 15.1 million people.

* Those not counted in unemployment rate: Up to 5 million. That includes as many as 3.5 million who have maxed out unemployment benefits and 1.3 million workers who have stopped filing paperwork for unemployment benefits, saying they do not believe they can find a job and have given up.

NOTE: there are no reliable figures on how many "99'ers" exist. From the Labor Department, we know 3.5 million people have fallen off the unemployment rolls but we do not know how many of them have found a job and how many are still unemployed.

* Unemployment Stats: Here are the latest – http://bls.gov/news.release/empsit.nr0.htm

* Personal income: Went up slightly in November, rising 0.5 percent in November.

* Personal spending: Also increased last month, going up 0.4 percent.

* Income/spending stats can be found here from the Bureau of Economic Advisors: http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm

* New home sales: Dropped another 8.1 percent in October. It was a drop of 28.5 percent from a year before and a plummet of 80 percent from the height of the housing boom.

* New home prices: Average sales price was $194,900 in October, 13.9 percent lower than in September.

* Existing home sales: Slid 2.2 percent in October.

* Existing home prices: Averaged $170,000 in October.

* More on new home numbers from CNNMoney: http://money.cnn.com/2010/11/24/real_estate/new_home_sales/index.htm

* More on existing homes from CNNMoney: http://money.cnn.com/2010/11/23/real_estate/home_sales_slow/index.htm

For more stats, including the latest figure on Gross Domestic Product, click here for this week's American Sauce podcast:

Tons of people lined up at 2am last Friday morning, crushing the malls and stores looking for super-duper bargains. But actual paying customers and retail revenues were only slightly higher than last year's, which wasn't anything close to good.

The U.S. and world economies are struggling with debt, unemployment and a real estate crisis, which won’t give a big boost to overall consumer discretionary spending. President Obama is proposing to freeze pay for Federal employees, the banks are trying to untangle the national housing foreclosure mess and Monday the European Union announced a $113 billion bailout plan just to help Ireland’s struggling economy. Meanwhile other European countries are also facing serious debt problems.

With all of this going on, are consumers going to start spending like crazy during the next four weeks?

According to the National Retail Federation 212,000,000 people went shopping over the weekend, which sounds impressive, but overall spending only increased by .5% to $45 billion compared to last year. Nevertheless, financial pundits are estimating that online sales could reach $1 trillion for Cyber Monday.

An article on Yahoo Finance titled "The Holiday Season: The Haves vs. the Have-Nots", proposed that people in the more improved industries, like finance, would spend more this season, making up for the lack of spending from consumers who are unemployed or in businesses that are still tied to the depressed housing market.

My email box has been bombarded with retail specials from merchants who are already hinting that their “Cyber Sales” will keep going for awhile. For example, online and in-store deals from WalMart are now being offered throughout their "Cyber Week."

Of course if you take the shopping plunge, make sure you have your list of people written down and the gifts that you plan to purchase for them. Then scope out the online price comparison sites like Retail Me Not and Coupon Cabin before you hit the “purchase“ button or head to the mall. And most importantly, stay within your overall spending budget.

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Washington (CNN) – It is not enough to say the economy is "struggling," "hurting," "sluggish" or "slow."

Click here to listen, or keep reading for a quick, bulleted list.

American Sauce's economic check-up:

* Personal bankruptcies: 1.5 million individuals applied for bankruptcy in the year between Sept. 2009 and Sept. 2010. That was a nearly 14 percent increase from the year before.

* Business bankruptcies: 58,322 businesses applied for bankruptcy in that time. Notably, that was a slight decrease of less than 1 percent from the year before.

* Bankruptcy stats: Look through them for yourself at http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx

* Unemployment rate: 9.8 percent in November, up from 9.6 percent in October.

* Those on unemployment rolls: 15.1 million people.

* Unemployment Stats: Here are the latest – http://bls.gov/news.release/empsit.nr0.htm

* Personal income: Went up slightly in November, rising 0.5 percent in November.

* Personal spending: Also increased last month, going up 0.4 percent.

* Income/spending stats can be found here from the Bureau of Economic Advisors: http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm

* New home sales: Dropped another 8.1 percent in October. It was a drop of 28.5 percent from a year before and a plummet of 80 percent from the height of the housing boom.

* New home prices: Average sales price was $194,900 in October, 13.9 percent lower than in September.

* Existing home sales: Slid 2.2 percent in October.

* Existing home prices: Averaged $170,000 in October.

For more stats, including the latest figure on Gross Domestic Product, click here for this week's American Sauce podcast:

With all of this going on, are consumers going to start spending like crazy during the next four weeks?

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Hulu plans its own entertainment news show, but will anyone watch?

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Steve Lopez: Dodgers divorce ruling good news for fans who want ...

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Steve Lopez: Dodgers divorce ruling good news for fans who want ...

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Your Daily Cup Of Orange and Blue Coffee - Horse Tracks!

Steve Lopez: Dodgers divorce ruling good news for fans who want ...

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Steve Lopez: Dodgers divorce ruling good news for fans who want ...

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Hulu plans its own entertainment news show, but will anyone watch?

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Steve Lopez: Dodgers divorce ruling good news for fans who want ...

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Washington (CNN) – It is not enough to say the economy is "struggling," "hurting," "sluggish" or "slow."

Click here to listen, or keep reading for a quick, bulleted list.

American Sauce's economic check-up:

* Personal bankruptcies: 1.5 million individuals applied for bankruptcy in the year between Sept. 2009 and Sept. 2010. That was a nearly 14 percent increase from the year before.

* Business bankruptcies: 58,322 businesses applied for bankruptcy in that time. Notably, that was a slight decrease of less than 1 percent from the year before.

* Bankruptcy stats: Look through them for yourself at http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx

* Unemployment rate: 9.8 percent in November, up from 9.6 percent in October.

* Those on unemployment rolls: 15.1 million people.

* Unemployment Stats: Here are the latest – http://bls.gov/news.release/empsit.nr0.htm

* Personal income: Went up slightly in November, rising 0.5 percent in November.

* Personal spending: Also increased last month, going up 0.4 percent.

* Income/spending stats can be found here from the Bureau of Economic Advisors: http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm

* New home sales: Dropped another 8.1 percent in October. It was a drop of 28.5 percent from a year before and a plummet of 80 percent from the height of the housing boom.

* New home prices: Average sales price was $194,900 in October, 13.9 percent lower than in September.

* Existing home sales: Slid 2.2 percent in October.

* Existing home prices: Averaged $170,000 in October.

For more stats, including the latest figure on Gross Domestic Product, click here for this week's American Sauce podcast:

With all of this going on, are consumers going to start spending like crazy during the next four weeks?

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Tuesday, December 7, 2010

foreclosure list

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