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Household Finances Appear Solid

Despite the ongoing adjustments in the housing sector, overall economic prospects for households remain good.  Household finances appear generally solid and delinquency rates on most types of consumer loans and residential mortgages remain low.

Quote by: Ben Bernanke
Quote made on: 15 Feb. 2007
Quote Submitted by: Financial Foot in Mouth
Source: U.S. Federal Reserve Chairman

Editor's Notes

With sub-prime delinquency rates now running at between 25-30% of the total, household finances are no longer seen as being in the `solid’ category some four years later.

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Published on: September 22, 2010

Category – USA Predictions and Gaffes
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