Tweet showing how hard it is to afford rent on minimum wage goes viral—there's just one problem

As a viral tweet makes clear, rents across the country are often out of reach to those making minimum wage....(read more)

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Blame the Shutdown for Extent of Miss on Fourth-Quarter US GDP

Bloomberg Blame the Shutdown for Extent of Miss on Fourth-Quarter US GDP Bloomberg Why did U.S. fourth-quarter economic growth miss forecasts? At least some blame can go to the brief government shutdown earlier this week. Data on December merchandise trade and inventories were originally due Thursday, but the Census Bureau release ... and more »...(read more)

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New York, New Jersey and Connecticut say they will sue federal government over SALT caps

A lawsuit would be just the latest salvo in blue states' fight with the White House over the deductibility of local levies....(read more)

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Orders for US Durable Goods Increase by Most in Six Months

Orders for US Durable Goods Increase by Most in Six Months Bloomberg Orders placed with U.S. factories for durable goods increased in December by the most in six months, providing more evidence of a bustling industrial sector. Bookings for goods meant to last at least three years increased 2.9 percent after a 1.7 ... and more »...(read more)

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Cash Sales Tie Post-Recession High

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for 11,000 new home sales in the fourth quarter of 2017. Cash purchases also accounted for 11,000 new home sales in Q2 2017, but only made up 6.5% of the total. In contrast, they made up 7.9% of purchases in... Read More ›...(read more)

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CFPB finalizes changes to the Prepaid Account Rule and further delays effective date

On January 25, the CFPB finalized certain changes to the original Final Prepaid Rule (the "Rule") proposed last summer.  The amended Rule still contains onerous restrictions on credit features and complicated disclosure requirements, but the changes are generally positive for prepaid providers and incorporate feedback from industry representatives.  Importantly, due to concerns about implementation difficulties,... Continue Reading…...(read more)

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BEA: Real GDP increased at 2.6% Annualized Rate in Q4

From the BEA: Gross Domestic Product: Fourth Quarter 2017 (Advance Estimate) Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017 , according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. ... The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, residential fixed investment, state and local government spending, and federal government spending that......(read more)

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