Joseph W. Bartolotta
Articles Library
Sep 8, 2009, 3:00 p.m. EST

U.S. consumer credit down record amount in July
WASHINGTON (MarketWatch)- U.S. consumers reduced their credit burden by a record amount in July, the Federal Reserve
reported Tuesday. Total seasonally adjusted consumer debt fell $21.55 billion, or at a 10.4% annual rate, in July to $2.47
trillion. This is the sixth straight monthly drop in consumer credit. Consumers have retrenched since the financial crisis hit the
economy in full force last September. Credit has fallen in every month since then except January. Economists surveyed by
MarketWatch expected consumer credit to decline by $4.3 billion. This is the longest consecutive string of declines in credit
since the second half of 1991. In the subcategories, credit-card debt fell $6.11 billion, or 8.5%, to $905.58 billion. This is the
record 11th straight monthly drop in credit card debt. Non-revolving credit, such as auto loans, personal loans and student
loans fell a record $15.44 billion or 11.7% to $1.57 trillion.
Oct. 27, 2009, 9:07 a.m. EDT

U.S. home prices rise 1.2% in Aug.: Case-Shiller
WASHINGTON (MarketWatch) -- The market value of U.S. homes in 20 major cities rose by 1.2% compared with July, the
fourth monthly increase in a row, according to the Case-Shiller home price index released Tuesday by Standard & Poor's. In
August prices rose in 17 of 20 cities. In the past year, prices are down 11.3% in the 20 cities. Prices are down 29.3% from the
peak. Prices in all 20 cities were lower in August 2009 than in August 2008. The figures are not seasonally adjusted.