Americans have experienced a reversal of fortune - and lost $14 trillion in net worth over the past 18 months. The housing crisis and credit crisis have taken a huge bite out of our net worth. In response, Americans are saving more - a move that won't help the economy recover, but may set up a more sustainable economic model.
I had some interesting responses to a blog I wrote wondering, ["Where Are All The Fantastic Real Estate Deals?"](https://www.thinkglink.com/blog/2009/0...
The credit crisis and housing crisis over the past few years has spawned concerns that we're facing financial armageddon. Is this happening? And, if it is, what will it mean for consumers and their bank accounts? One listener to Ilyce Glink's radio show wonders whether Ilyce thinks a blog called Financial Armageddon is on the money.
Today on the Ilyce Glink Show there was a lot of news to tackle. Consumer confidence, the number that shows how the public is feeling about the economy, rose to a nine-month high, even though gas prices are rising again. According to a new analysis by msnbc.com and the Investigative Reporting Workshop at American University, bad real estate loans (commercial, residential and industrial) continue to weigh down the recovery of the banking industry. Ilyce also discussed how what you search for online can make you a more likely victim of cyber-fraud. Foreclosures were up 18 percent in May from last year and California, Nevada, and Florida were the top 3 states in terms of the number of foreclosures. Ilyce also took questions from callers about property taxes and tax credits for first-time home buyers and energy efficiency. Check Ilyce's blog for more show notes.
Today on the Ilyce Glink Show, we're discussing the following:
New car buyers qualify for a tax deduction for the state or local sales tax, under that American Recovery and Reinvestment Act of 2009. Now the Treasu...
New car purchases qualify for a tax deduction for the state of local sales tax. The Treasury Department announced that purchases made in states without sales tax can still qualify for the tax deduction. There are specific time limits and income requirements to be eligible for the new car sales tax deduction. Also, a tax deduction is different from a tax credit. A tax credit reduces the amount you owe the government dollar for dollar. That's to say, a $1,000 tax credit reduces your tax liability by $1,000. And, if you are in a 25% tax bracket and receive a $1,000 tax deduction, you benefit by obtaining a $250 reduction in your income taxes.
The latest survey from the Mortgage Bankers Association shows that mortgage rates are increasing as refinancing activity is continuing to drop. Did ...
According to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association, mortgage interest rates are rising as refinancing activity continues to fall, but the purchase applications are holding steady.
What would it take to motivate you to buy a house? U.S. Senator Johnny Isakson, R-Ga., thinks you need the push of $15,000. Yesterday Sen. Isakson i...
