Thu, 01 June 2023 | credit unions lending
The newly released Q2 Credit Union Market Perspectives Report from TransUnion shows that stubbornly-high inflation continues to put pressure on the monthly budgets of consumers, credit union members among them. This has led to increasing reliance on credit cards and personal loans as borrowers seek ways to make ends meet.
“Credit union members are facing many of the same inflation-driven economic challenges as the overarching market,” said Sean Flynn, senior director of community financial institutions at TransUnion. “As a result, credit unions are seeing... Read More
Thu, 01 June 2023 | asset management
After a long period of consistent profitability, the wealth and asset management sector is facing rising costs, shrinking margins, and intensifying consumer demands. Firms are looking for ways to accelerate their digital transformations, bring more of what their clients want to the table, and bolster assets under management—all in the most cost-efficient way. According to a new report by Boston Consulting Group (BCG) and global end-to-e... Read More
Thu, 01 June 2023 | investing
Since the start of the COVID-19 pandemic, traditional investment vehicles have been challenged by trending investment opportunities that have burst onto the marketplace. But despite these opportunities, financial advisers seem to maintain a strong preference for those investment vehicles that have stood the test of time, according to the 2023 Trends in Investing Survey, ... Read More
Thu, 01 June 2023 | housing
The everyday expenses of owning a home are higher than ever, according to a new analysis from Zillow® and Thumbtack. Utility bills, property taxes, insurance and essential home maintenance can add up to $14,155 a year for the average U.S. homeowner. That's an additional $1,180 per month on top of a typical mortgage payment. First-time home buyers facing affordability challenges in today's market need to understand and budget for these less obviou... Read More
Thu, 01 June 2023 | demographics finances
With a possible recession looming and global activism growing, young adults are far more bullish about their ability to change the world than they are about securing their own financial future, according to a report from the TIAA Institute and Business for Impact's AgingWell Hub at Georgetown University.
The report – the Young Adults Personal and World Outlook Survey – surveyed Gen Z and younger millennials, ages 24 to 35.
More than half (56%) feel that they have a role in solving global problems like climate change, social injustice and political division. But when it... Read More
Thu, 01 June 2023 | economy housing
Home prices rose slightly in May, but price growth slowed to the lowest rate on record since 2016, suggesting home prices may not see a new peak in 2023, according to the Realtor.com® Monthly Housing Trends Report released today. Additionally, home inventory growth continues to slow and is declining in many metro areas across the country as fewer sellers list their homes than last year and buyers compete ov... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation