Post-crash, people borrow for college, not housing

| Print |  Email
Wednesday, January 30, 2013

 

The Atlantic: The story of the post-crash economy has been one of people borrowing to go to school instead of to buy houses. Student loans are up $317 billion. Mortgages are down $1.3 trillion.

Our long, national deleveraging nightmare might soon be over. After peaking at over $13.6 trillion in late 2008, outstanding household debt has fallen by $833 billion the past four years, albeit for the not-so-good reason that so many people have been foreclosed on. It's the most painful, and perhaps least efficient way, of getting out from under our collective pile of debt, but it's also, ahem, the default way of doing so. It's politically easier not to fight for more writedowns and refis.

 

 

Read more.

 

More Articles

Powerbook Perspective

January-Powerbook 2015
Friday, December 12, 2014
BY LINDA BAKER

A conversation with Oregon state economist Josh Lehner.


Read more...

5 schools helping students crack code

The Latest
Thursday, January 29, 2015
codeduthumbnailBY JACOB PALMER | OB DIGITAL NEWS EDITOR

As the costs of college mount, and as employer demand for software developers soars, coding schools and classes are popping up everywhere.


Read more...

Which Way to Chinatown?

February 2015
Monday, January 26, 2015
BY AMY MILSHTEIN | PHOTOS BY JASON E. KAPLAN

The Jade International District, already Portland's center of Asian life, is poised for rejuvenation. Where does that leave the westside's historic Chinatown?


Read more...

The short list: 4 companies engaged in a battle of the paddles

The Latest
Thursday, December 04, 2014
pingpongthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Nothing says startup culture like a ping pong table in the office, lounge or lobby.


Read more...

7 industry trends of 2015

The Latest
Friday, January 09, 2015
covertrends15-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Industry groups identify top trends for 2015.


Read more...

The city as startup

Guest Blog
Wednesday, January 14, 2015
011415 citystartup-thumbBY NISHANT BHAJARIA | OP-ED CONTRIBUTOR

Startups in the growth phase are associated with a fresh infusion of capital — human and financial — a curiosity factor and products to disrupt the market and drive demand. Portland’s economy gives off the same aroma.


Read more...

That's Not a Watch (This Is a Watch)

February 2015
Tuesday, January 27, 2015

Smartwatches are all the rage. But old-fashioned timepieces keep on ticking.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS