Category Archives: Economy
Persistently Sluggish Economy Proves Most Painful for Members of Millennial Generation
Five years after the economy first started to slump, Americans are still feeling the pinch – but one group is feeling it more keenly than others. According to a new study, the millennial generation appears to have suffered most due to the downturn. Nearly 50 percent of people between the ages of 18 and 34… Read More »
Fed Lowers Mortgage Rates, but Bankruptcy May Be Better Solution for Homebuyers
The Federal Reserve is embarking on an ambitious plan to boost the economy by lowering mortgage rates. But experts say the program, which was announced last week, may not be enough. The Fed plans to begin buying $40 billion a month in mortgage-backed securities in an attempt to push mortgage rates lower. But with rates… Read More »
Tennessee Bankruptcy Helps Members of Hard-Hit Generation X Get Back on Their Feet Post-Recession
The last half-decade has been tough on us all. But no one has more reason to complain than one group. According to recently released data from the Census Bureau, people between 35 and 44 years old – often categorized as Generation X – saw the largest percent decline in median household net worth of any… Read More »
Data Shows Recession Decimated Household Wealth; Tennessee Bankruptcy Can Help Families Rebuild Finances
If your family’s finances are still reeling from the recession, you’re not alone. According to new data from the Federal Reserve, median household net worth fell almost 40 percent between 2007 and 2010. At its lowest point, median wealth dropped to 1992 levels. Middle-class families lost the most financial momentum. While the wealth of the… Read More »
As More Consumers Slip Back Into Debt, Tennessee Bankruptcy Offers a Solution
After a few years of cutting costs and trimming budgets, it appears that Tennessee consumers are once again slipping back into debt. The average Tennessee resident now owes $24,043 in credit cards, personal loans, and auto loans – a $500 increase over last year, according to credit reporting agency Experian. Residents in Middle Tennessee areas… Read More »