US Households increased debt at the fastest pace in 15 years due to big increases in credit card usage and mortgage balances, rising more than 15% from the same period in 2021, the largest annual jump in more than 20 years. Total debt jumped by $351 billion for the July-September period, the largest nominal quarterly increase since 2007, bringing the collective household IOU in the U.S. to a fresh record $16.5 trillion, up 2.2% from the previous quarter and 8.3% from a year ago. The increase follows a $310 billion jump in the second quarter and represents a $1.27 trillion annual increase.
Knowing that 90-plus precent of all real estate searches start online, I was fascinated to learn about September 2022 monthly website visit stats of 10-year old COMPASS compared to some 'legacy' brands:
- COMPASS - 10 years old - 7.9 million visits per month
- CORCORAN - 49 years old - 783,400 visits per month
- ELLIMAN - 111 years old - 438,000 visits per month
- CHRISTIES - 256 years old - 455,300 visits per month
- SOTHEBYS - 278 years old - 3.8 million visits per month.