Inna Ivchenko, Realtor® • Green • GRI • HAFA • PSC Calabasas CA (Barcode Properties)

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Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Surprised?  No.

Sep 07, 2018 01:42 PM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I get the spending but, income actually went UP for most as not only do most have some sort of incremental raises but, many are making more due to lower taxes. 

UNLESS that number dropped because there are now more employed than ever before? Perhaps entry level salaries are bringing the income number down?

Sep 07, 2018 03:16 PM
Rainmaker
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Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Nothing new there - we live in the land of revolving credit

Sep 07, 2018 01:32 PM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

The chart makes sense to me Inna Ivchenko . Credit has gone down because spending is up (thus some/many people have maxed out their credit) and they are spending because their weekly earnings are up which gives them the optimism to spend.

Sep 07, 2018 06:39 PM
Rainmaker
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Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

The American Way: NEVER LEARN.

Sorry, 2007-2011 was my great teacher. We spend far less than we earn and we don't give a $#!+ about "The Jones". 

Sep 07, 2018 04:45 PM
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Inna Ivchenko consumers live on revolving credit.

Sep 07, 2018 02:55 PM
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Keynesian Economics at the consumer level.

Sep 07, 2018 01:51 PM
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Richard Bazinet /MBA, CRS, ABR
WestUSA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Sadly, BoA is part of the swamp. Be nice to double check those figures against another source or two. Assuming it is correct, it does show an increase in earnings, a decrease in consumer credit, and an increase in consumer spending, that's all economically fabulous.

Sep 07, 2018 05:38 PM
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Interesting.

Sep 07, 2018 04:56 PM
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Danger ahead....  people are spending more than they can afford to spend ....and credit ratings are declining because of that extra debt.... 

that's how it starts....

Sep 07, 2018 01:55 PM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Well,  consumer spending  is higher than one year ago and below its 30-year average. This may indicate that consumers have confidence in the economy. Inflation is the same as one year ago. The Federal Reserve raised interest rates from 1.5% to 1.75% in March 2018, the highest level since 2008. 

 

Sep 07, 2018 01:52 PM
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

The fact that it was put out by BoA causes speculation within me. 

Sep 07, 2018 04:17 PM
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

That is nothing new and to some degree it tells us people have confidence in the economy and their ability to earn and carry debt.

Sep 08, 2018 03:42 AM
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Interesting but not surprising. I read recently that more employers are now NOT giving raises when people are promoted. Hmmm.

Sep 07, 2018 06:19 PM
Rainmaker
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Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

I'm actually not surprised so many people live on revolving credit.

Sep 07, 2018 05:02 PM
Rainmaker
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Good times are back and people are spending.  Hopefully they won't be caught short again.  I would hope more of us have learned serious lessons from the great recession.

Sep 07, 2018 04:22 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

It seems to me that is the way many live especially the US government...and they just gave themselves a raise this August. A

Sep 07, 2018 03:44 PM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Many will not survive when that old 'Bubble' bursts again!

Sep 07, 2018 03:33 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Interesting.

Sep 07, 2018 02:41 PM
Rainmaker
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Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

It doesn’t surprise me. 

Sep 07, 2018 09:34 PM
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Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

One new phenomena is that people are pulling out their credit card now for almost everything rather than having cash on hand. And then I pay it off in a lump sum at the end of the month. Maybe that skews things?

Sep 07, 2018 06:32 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Credit was first introduced in the fifties and since then it has taken over. Have now pay later is hard to turn down. However, the piper must be paid

Sep 07, 2018 05:25 PM
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Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Inna Ivchenko I stay pretty much out of debt BUT I do know consumer credit card debt is over the Moon.

Sep 08, 2018 05:23 AM
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Allie Angeloni
Long Realty - Oro Valley, AZ

Since history tends to repeat itself (some learn from it while many do not), from B of A numbers, I don't think it's unusual for spending to be higher than earning.  I want it now and I can have it now!  Many are not wise enough to either save and wait, or spend less, because they may have to do without a current want, as opposed to a current need Inna Ivchenko

Sep 07, 2018 09:42 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks for sharing this Inna.

Sep 07, 2018 05:13 PM
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing 

Sep 07, 2018 04:09 PM
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Richard Weeks
Dallas, TX
REALTOR®, Broker

I'd say spot on.

Sep 08, 2018 05:12 AM
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Despite the circus of mainstream media and politics, the economy is booming for not just companies, but for the public too

Sep 08, 2018 05:11 AM
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Not much. Not sure how it can help/hinder my business. What I do know from other more reliable sources is people are sucking their equity out again this year! Yikes, here we go again.

Sep 08, 2018 05:06 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Inna Ivchenko - interesting!

Sep 07, 2018 11:55 PM
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

too small a time frame to show subtle changes.... Avoid them whenever possible.....

Sep 08, 2018 07:23 PM
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Now is a good time to trim debt

Sep 08, 2018 08:22 AM
Rainmaker
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Nancy Frimann
Eagle Ridge Realty/Signature Homes & Estates - Gilroy, CA
California Real Estate Broker

Interesting

Sep 08, 2018 08:07 AM
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Everyone is piling up credit card miles, prizes, rewards and other perks.

Sep 08, 2018 08:04 AM
Rainmaker
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Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I blame it on the Millenials putting their Starbucks & Avocado Toast over Fiscal Responsibility... and Student Loans. 

Sep 08, 2018 06:39 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This has been going on for a while, I think.

Sep 08, 2018 06:32 AM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Spending more than you make, not surprising! 

Sep 08, 2018 06:24 AM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Just one of many studies reflecting this.

Sep 08, 2018 05:44 AM
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Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I wonder what the demographic of those polled was?  I know in general the younger generations tend to spend more for a "fun time" on the weekend.

Sep 12, 2018 09:00 PM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Most of my clients are not spending as much, and saving more.

Sep 11, 2018 08:43 AM
Rainmaker
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Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate

It's certainly a dysfunctional cycle: Excessive Credit --> Excessive Spending --> Higher Prices; Rinse and Repeat...

Sep 09, 2018 08:27 PM
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not much

Sep 09, 2018 07:54 PM
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Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

The good stat is the last one- increasing weekly earnings.

Though increased spending does help stimulate the economy there tends to be a price to pay for consumer credit increases.

Sep 09, 2018 11:27 AM
Rainmaker
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Consumers are earning more, spending more, which is deteriorating their credit. That means they will get to the point, where they can get in trouble if there is any kind of glitch, i.e. loss of a job, illness, just anything. Spells potential trouble ahead.

Sep 08, 2018 04:40 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

well if someone buys and finances a house or a car of course their spending is higher than their earnings.  And finally we're seeing confidence in major purchases again.  

Sep 08, 2018 02:41 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow,  I hate using credit cards the older I get, and now I have them all paid off.

Sep 08, 2018 11:51 AM