Group forecasts GDP up 2.6 percent this year, down from May prediction of 3.2 percent...
"Consumer caution, high unemployment and slow growth in household wealth will slow U.S. economic growth through next year, according to a survey by the National Association of Business Economics.The 46 economists in the association's quarterly survey forecast growth in real GDP of 2.6 percent this year, down from their May prediction of 3.2 percent. The economists predict GDP will accelerate gradually through 2011 but remain "moderate" next year."This summer's slowdown has exposed the economy's sensitivity to wealth losses, the unwinding of debt, and the reductions in economic stimulus," said NABE President-elect Richard Wobbekind, associate dean of the Leeds School of Business at the University of Colorado-Boulder. "Confidence in the expansion's durability is intact, but recent economic weakness has prompted many panelists to scale back expectations for the year ahead."..."
Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
Eight years after we began recognizing women for their influential work in the expanding housing and mortgage finance ecosystem, a traditionally male-dominated field, our Women of Influence list is bigger and better than ever! This year, we honor 85 women who are making lasting achievements in each sector of the housing economy. Read on to learn more about these accomplished women and the strides they are making in their industry segments.
The financial world at large is experimenting with changing its workforce culture in ways not fathomable 10 years ago. For example, in 2011, the dress code for female workers at UBS came to light with unflattering results. In it, the Swiss bank instructed female employees on not just how to dress and how to smell, but also preached the importance for ladies to apply lotion after taking showers. Fast forward to today and fellow Swiss bank, Credit Suisse has now created an official role to boost equal opportunities and create a fair treatment environment. Has the American mortgage industry made similar progress?
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.