Category Archives: Employment and Unemployment

S&P’s Affordable Housing Hot Topics Event

Please join us on Tuesday, June 10, for Standard & Poor’s Ratings Services’ Affordable Housing Hot Topics Event in New York. Senior credit analysts from S&P Ratings’ Housing Enterprises and Structured Securities group along with our financial services, corporate and RMBS ratings teams will discuss mortgage finance and housing industry trends. Register Today. Our cross-sector […]

After Several Years Of Steady Decline, U.S. Household Leverage Is Showing Signs Of Increasing Again

The great leveraging of America began in the mid-1980s with the wider use of credit cards and the introduction of home equity lines of credit. By 2000, household debt had grown to more than 90% of disposable personal income, and by the end of 2007, it had peaked at 135%. During the financial crisis and […]

Richmond, Calif.’s Eminent Domain Proposal Could Have A Far-Reaching Impact On The U.S. RMBS Market

When Standard & Poor’s Ratings Services commented on the credit impact of eminent domain proposals to seize mortgages pledged to residential mortgage-backed securities (RMBS) last year, we considered the likelihood of implementation remote. However, recent developments suggest that the possibility of such eminent domain proceedings has increased, although only in a few jurisdictions. Because of […]

Economic Update: Mixed Results

Economic Update: Initial Jobless Claims Fell 15,000 to 358,000

Initial jobless claims fell 15,000 to 358,000 in the week ended February 4, which was better than the 370,000 claims expected by consensus. The 4-week moving average is now under 370,000 and moving further into recovery territory. Mild weather once again explains some of the good news, with some states reporting of fewer layoffs in […]

House Prices and the Unemployment Rate

On Friday the Bureau of Labor Statistics will release the unemployment rate for December.   Whatever the numbers look like we are sure to hear a debate about housing and unemployment — are they related, which causes which and does one hold the key to solving the other.  A quick look at the way home prices […]

U.S. economic forecast: it’s not over yet

Just as some good news finally came our way in June, increasing our hopes that the soft patch in the economy may finally be behind us, the government’s payrolls report on July 8 indicated that it isn’t over yet. Automatic Data Processing’s (ADP’s) June private payrolls survey had showed that employers had added a solid […]

Liquidity is a key focus as the recovery for U.S. homebuilders remains elusive

Standard & Poor’s Ratings Services’ base-case outlook for credit quality in the U.S. homebuilding sector is generally stable through the balance of 2011 despite a disappointing spring selling season. Our cautiously stable outlook for 2012 could tilt in a negative direction if our baseline forecast for a modest housing recovery again fails to materialize and […]

Don’t Blame All of Housing on Unemployment

This morning’s Employment Report for May was disappointing with the unemployment rate up 0.1 to 9.1% and weaker than expected growth in payrolls.  Many people point to the poor employment picture as the leading reason for falling home prices.  Without question, employment and people’s views of the labor market are important, but they are not […]

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