Roughly a third of people who financed their vehicles have negative equity on their auto loans which means their loan is larger than the value of their car. That share would amount to some 31 million of the more than 100 million auto-loan accounts.
U.S. Consumer confidence is declining as the election nears. The survey showed a continuing frustration with high prices.
Goldman Sachs this month sold $475 million of public asset-backed securitization, or ABS, bonds backed by loans the bank makes to fund managers that tide them over until cash from investors comes in. The first-of-its-kind deal is a lucrative byproduct of the New York bank’s push into loans to investment firms, such as these so-called capital-call lines.
A lengthy stretch of scant new construction of retail real estate, combined with demand from expanding retailers, has reduced a longstanding property glut. Retail availability sits near record lows.
Median new-home prices were down on a monthly basis for much of the past year. The most recent decline of nearly 5% in August brought them to roughly $420,000. Prices for previously owned homes, meanwhile, have hit record highs.
RevPAR growth is projected to improve in the second half of the year, increasing by 2% compared to only 0.5% in the first half of 2024.
Some 64% of job-switchers got a raise, but only 44% maintained or increased their 401(k) savings rate.
