All Posts Tagged: income
U.S. Outlook: Happy anniversary, Great Recession expansion!
The current economic expansion turned nine years old this month.
How does this expansion stack up against the longest on record, and how long will it last?
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on June 8.
Key observations:- The current expansion, at 108 month long and running, is the second longest in history going back to 1854, trailing only the 1991-2001 expansion.
- Sharp downturns in GDP are sometimes followed by strong and rapid recoveries, but debt-driven recessions, like the Great Recession, can take longer to fully recover from.
- Income growth during the current expansion has remained tepid compared to past expansions.
- In our view, this expansion is likely to last for at least six more quarters, partly due to the tax cuts that were enacted late last year.
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3 reminders for a healthy debt level
When you hear the word “debt,” the associations that first come to mind may be burdensome, constricting, or negative.
Read More ›U.S. Outlook: The state of the union
With the U.S. Presidential election just 73 days away, we thought now would be a good time to take a closer look at how the economy is faring at the state level.
Read More ›Ways to document your income for a mortgage
It’s important to stay organized and maintain a paper trail, since your income will be scrutinized in great detail by underwriters.
Read More ›Looking to buy or refinance? Pay attention to the number 43.
Your total debt payments relative to your total income is called your debt-to-income ratio, which prospective lenders will be watching.
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